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Provider: Pechala's Reports
Provider: Pechala's Reports
Provider: Reuters Investment Profile

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Scientific Games Corp To Acquire WMS Industries Inc

Thursday, 31 Jan 2013 07:25am EST 

Scientific Games Corp and WMS Industries Inc announced that the companies have entered into a definitive agreement under which Scientific Games has agreed to acquire WMS for $26.00 in cash per common share or approximately $1.5 billion. The transaction, which was unanimously approved by both the Scientific Games and WMS Boards of Directors, combines two companies in the gaming industry to create an organization that will supply range of products and services to public and private sector lottery and gaming customers throughout the world. WMS is in the supply of gaming machines and interactive gaming content. Scientific Games will acquire all of the outstanding shares of WMS for $26.00 per share in cash, for a total enterprise value of approximately $1.5 billion, including debt of $85 million and cash on hand of $55 million as of September 30, 2012. BofA Merrill Lynch and Credit Suisse Securities (USA) LLC served as the financial advisors to Scientific Games and Cleary Gottlieb Steen & Hamilton LLP served as the legal advisor to Scientific Games for the transaction. BofA Merrill Lynch, Credit Suisse and UBS provided the committed financing for the transaction, with Latham & Watkins LLP serving as the legal advisor to Scientific Games for such financing. Macquarie Capital acted as exclusive financial advisor to WMS with respect to this transaction and Skadden, Arps, Slate, Meagher & Flom LLP and Blank Rome LLP served as WMS' legal advisors. 

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