The securities litigation law firm of Brower Piven, A Professional Corporation, has commenced an investigation into possible breaches of fiduciary duty and other violations of state law by the Board of Directors of International Game Technology (“IGT” or the “Company”) (NYSE: IGT) relating to the proposed buyout of the Company by GTECH S.p.A. (“GTECH”). 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. If you currently own common stock of IGT and would like to learn more about the investigation being conducted by Brower Piven, without cost or obligation to you, please visit our website at http://www.browerpiven.com/currentinvestigations.html. You may also request more information by contacting Brower Piven either by email at firstname.lastname@example.org or by telephone at (410) 415-6616. Attorneys at Brower Piven have extensive experience in litigating securities and other class action cases and have been advocating for the rights of shareholders since the 1980s.
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