NEW YORK, July 17, 2014 /PRNewswire/ -- The Law Office of James C. Kelly is investigating claims on behalf of investors of International Game Technology ("IGT" or the "Company") (NYSE: IGT), concerning the proposed acquisition of IGT by GTECH S.p.A. ("GTECH"). Shareholders of IGT seeking more information about this acquisition are advised to contact James C. Kelly at 888.643.7517 or firstname.lastname@example.org.
On July 16, 2014, IGT announced the signing of a definitive agreement pursuant to which GTECH will acquire IGT in a merger valued at approximately $6.4 billion.
Under the terms of the transaction, IGT and GTECH will combine under a newly formed holding company organized in the United Kingdom ("NewCo"). IGT shareholders will receive an aggregate value of $18.25 per IGT share in a combination of $13.69 in cash plus 0.1819 ordinary shares of NewCo for each share of IGT common stock they own. According to Yahoo! Finance, at least one analyst has issued a price target for IGT stock at $19.00 per share.
The firm's investigation seeks to determine, among other things, whether the Company's Board of Directors breached their fiduciary duties by failing to maximize shareholder value before agreeing to enter into the transaction, and whether GTECH is underpaying for IGT shares.
The Law Office of James C. Kelly has extensive experience representing shareholders in mergers and acquisition actions. Visit our website for additional information at http://www.jckellylaw.com
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