|[July 22, 2014]
SHAREHOLDER ALERT: Brower Piven Announces The Investigation Of International Game Technology In Connection With The Proposed Sale Of The Company To GTECH S.p.A
STEVENSON, Md. --(Business Wire)--
The securities litigation law firm of Brower Piven, A Professional
Corporation, has commenced an investigation into possible breaches of
fiduciary duty and other violations of state law by the Board of
Directors of International Game Technology (News - Alert) ("IGT" or the "Company")
(NYSE: IGT) relating to the proposed buyout of the Company by GTECH
On July 16, 2014, IGT announced the signing of a definitive agreement
pursuant to which GTECH will acquire IGT in a merger valued at
approximately $6.4 billion.
Under the terms of the transaction, IGT and GTECH will combine under a
newly formed holding company organized in the United Kingdom ("NewCo").
IGT shareholders will receive an aggregate value of $18.25 per IGT share
in a combination of $13.9 in cash plus 0.1819 ordinary shares of NewCo
for each share of IGT common stock they own. According to Yahoo!
Finance, at least one analyst has issued a price target for IGT
stock at $19.00 per share.
The firm's investigation seeks to determine, among other things, whether
the Company's Board of Directors breached their fiduciary duties by
failing to maximize shareholder value before agreeing to enter into the
transaction, and whether GTECH is underpaying for IGT shares.
If you currently own common stock of IGT and would like to learn more
about the investigation being conducted by Brower Piven, without cost or
obligation to you, please visit our website at http://www.browerpiven.com/currentinvestigations.html.
You may also request more information by contacting Brower Piven either
by email at email@example.com
or by telephone at (410) 415-6616.
Attorneys at Brower Piven have extensive experience in litigating
securities and other class action cases and have been advocating for the
rights of shareholders since the 1980s.
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