IGT announces recommended cash offer for Entraction
International Game Technology (“IGT”) has announced a recommended cash offer to the shareholders in Entraction Holding AB (“Entraction”) corresponding to a total offer value of SEK 700 million.
IGT is a global leader in the design, development and manufacture of gaming machines and systems products, as well as online and mobile gaming solutions for regulated gaming markets. IGT had sales of USD 1,987 million in fiscal year 2010 and an operating profit of USD 433 million. IGT’s shares are listed on NYSE.
Entraction operates one of the world’s largest, legal online poker networks and is one of the leading suppliers of online gaming products and services. The B shares in Entraction are listed on NASDAQ OMX First North Premier Stockholm.
IGT is advised by Mannheimer Swartling as to Swedish law. Klaes Edhall is handling the matter, primarily assisted by Johan Berg, Håkan Knutsson and Peter Sjöberg. The firm’s team also includes Stefan Widmark and Oscar Björkman (Intellectual Property); Stefan Perván Lindeborg and Urszula Sieradzka from the firm’s Brussels office (EU Competition); Martin Nilsson, Anders Erasmie and Carl Beyer (Tax); and Cecilia Lönn (Employment).