Bally Technologies, Inc. (NYSE: BYI) (“Bally”) and SHFL entertainment, Inc. (NASDAQ Global Select Market: SHFL) (“SHFL”) announced today that the applicable waiting period under the Hart-Scott-Rodino Antitrust Act of 1976 (“HSR Act”) in relation to Bally’s previously announced proposed acquisition of SHFL expired as of 11:59 p.m. EDT on August 26, 2013, with no action by the Federal Trade Commission or the Department of Justice.
On July 16, 2013, Bally and SHFL announced that they had entered into a definitive agreement and plan of merger pursuant to which Bally has agreed to acquire SHFL at a price per share of $23.25 in cash for total consideration of approximately $1.3 billion, subject to the satisfaction of certain pre-closing conditions.
Completion of the HSR Act waiting period satisfies one of the conditions required to finalize the acquisition. The transaction is still subject to approval by SHFL's shareholders, required regulatory approvals, and certain other customary closing conditions. The transaction is not subject to a financing contingency and Bally has obtained commitments for a new $1.1 billion term loan facility to finance the acquisition of SHFL. The transaction is expected to close following the satisfactory completion of all required closing conditions.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV