Apollo Funds将以63亿美元的全现金交易收购IGT的游戏业务Everi

International Game Technology (NYSE:IGT) and Everi Holdings (NYSE:EVRI) shares jumped in early trade on Friday after Apollo Global Management (NYSE:APO) agreed to acquire IGT's Gaming & Digital business and Everi in an all-cash deal that values them at ~$6.3B on a combined basis.

In February 2024, IGT (IGT) and Everi (EVRI) signed a definitive deal, whereby IGT would separate its gaming business via a taxable spin-off to IGT shareholders and then immediately combine such business with Everi.

Pursuant to the terms of the new agreements, IGT's Gaming & Digital business and Everi will be simultaneously acquired by a newly formed holding company owned by funds managed by affiliates of Apollo (APO). The February transaction agreements between IGT and Everi have been terminated.

Everi (EVRI) stockholders will receive $14.25 a share in cash, representing a 56% premium over its last closing price. IGT, meanwhile, will receive $4.05B of gross cash proceeds for IGT Gaming, a significant portion of which will be used to repay debt and to be returned to shareholders.

Expected to be completed by the end of the third quarter of 2025, the transaction has been unanimously approved by a special committee of the IGT board of directors and unanimously approved by all members of the Everi board.

Upon closing, IGT Gaming and Everi will be privately-owned companies that are part of one combined enterprise. Everi shares will be delisted from the NYSE, while IGT will change its name and stock ticker symbol, becoming a premier pure play lottery business.

De Agostini S.p.A., the majority shareholder of IGT, has committed to make a minority equity investment in the combined enterprise at the closing of the deal.

Shares of IGT and Everi Holdings (EVRI) jumped around 20% and 45%, respectively, premarket on Friday.

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