Bloomberg News

IGT Jumps on Report GTech Bids on Slot Machine Maker

June 13, 2014

International Game Technology (IGT:US), the world’s largest maker of slot machines, rose 11 percent after Reuters reported bidders include lottery operator GTech SpA (GTK) and billionaire Ron Perelman’s MacAndrews & Forbes Holdings Inc.

The shares advanced to $15.86 at the close in New York, the highest level since Jan. 23. The stock has declined 13 percent this year.

The Las Vegas-based company also attracted preliminary bids from Apollo Global Management LLC and Carlyle Group LP (CG:US), Reuters reported, citing people familiar with the matter. Binding bids are due in a few weeks, according to the report.

IGT jumped 14 percent on June 9, the most in five years, after Reuters reported the company hired Morgan Stanley to explore a sale.

GTech, based in Rome, fell 8 cents to 19.66 euros today in Italy.

To contact the reporter on this story: Anthony Palazzo in Los Angeles at apalazzo@bloomberg.net

To contact the editors responsible for this story: Anthony Palazzo at apalazzo@bloomberg.net Anne Reifenberg


Coke's Big Fat Problem
LIMITED-TIME OFFER SUBSCRIBE NOW

(enter your email)
(enter up to 5 email addresses, separated by commas)

Max 250 characters

Companies Mentioned

  • IGT
    (International Game Technology)
    • $16.78 USD
    • -0.15
    • -0.89%
  • CG
    (Carlyle Group LP/The)
    • $32.8 USD
    • -0.58
    • -1.77%
Market data is delayed at least 15 minutes.
 
blog comments powered by Disqus