IGT’s stock rose by over two per cent yesterday amid rumours that GTECH is preparing a $4bn cash bid to buy the company.
That price would value IGT at a little over $16 a share. The stock closed at $15.42. IGT confirmed last month that it was considering strategic a sale and that GTECH was a potential buyer.
Also rumoured to be interested in buying IGT are Ron Perelman’s MacAndrews and Forbes, Carlyle Group and Apollo Group. MacAndrews and Forbes is Scientific Games’ biggest investor.
GTECH is known primarily as a lottery company and trades on the Milan stock exchange. However, it also owns a big slots business, Spielo.
