Announced Thursday, IGT's Gaming and Digital Business and Everi To Be Acquired By Apollo Funds in All-Cash Transaction; Everi Stockholders To Receive $14.25/ Share in Cash; IGT To Receive $4.05B Of Gross Cash Proceeds
Portfolio Pulse from charles@benzinga.com
International Game Technology PLC (IGT) and Everi Holdings Inc. (EVRI) will be acquired by Apollo Funds in an all-cash transaction valued at $6.3 billion. Everi stockholders will receive $14.25 per share in cash, and IGT will receive $4.05 billion in gross cash proceeds.
July 26, 2024 | 11:13 am
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POSITIVE IMPACT
Apollo Funds will acquire IGT and Everi in an all-cash transaction valued at $6.3 billion.
The acquisition of IGT and Everi by Apollo Funds is likely to be viewed positively by investors, potentially boosting Apollo's stock price in the short term.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Everi will be acquired by Apollo Funds, with stockholders receiving $14.25 per share in cash.
The acquisition price of $14.25 per share is likely to positively impact Everi's stock price in the short term as it provides a clear exit value for shareholders.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100
POSITIVE IMPACT
IGT will be acquired by Apollo Funds, receiving $4.05 billion in gross cash proceeds.
The acquisition by Apollo Funds and the significant cash proceeds are likely to positively impact IGT's stock price in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100