GTech Obtains Financing to Acquire IGT

GTech has been able to obtain the $2.6 billion in financing necessary to pursue its acquisition of International Game Technology (IGT).

The majority of financing has was received by banks in Europe, followed by Italy, the United States and the United Kingdom.

Shareholders have granted their approval for the acquisition that is said to be valued at $4.7 billion.
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    catapultaudio

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    I totally know what you mean dirkemans, it really confuses me when I hear of what I thought was a tiny unknown company like GTech buying out a monster like IGT! Thouse the fact it says they obtained finance to do so suggests to me they could never really afford it in the first place. It's pretty crazy if, infact, IGT is the bigger company, yet GTech can get a loan of sorts to buy them out. Weird world indeed!
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    SassyGirlMe

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    comment to dirkemans.....its always the little guys that are up and coming that make a big noise that the big guys see as potential big boys and the first thing they do is see if the company needs money or buy out possibilities. And it looks like this little guy got very lucky. Can't wait to see what comes of it all. A big favor indeed;)
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    dirkemans

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    I don't recall ever hearing of Gtech being that big of a company, as to be able to purchase giants like IGT. Anyway, it's one of the biggest purchases of a well known gambling brand in history, IGT is is one of, if not THE top land based game suppliers, and in some countries also quite popular online, 4.7 billion is of course nothing to sneeze at, but i actually figured that IGT would be worth 10 billion or even more.. I believe that Gtech, have done themselves a big favor here:)

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