Bally Buys Gaming Co. SHFL In $1.3B Cash-For-Stock Deal

Law360, New York (July 16, 2013, 1:31 PM EDT) -- Las Vegas-based gaming technology company Bally Technologies Inc. will acquire competitor SHFL Entertainment Inc. for $1.3 billion in an all-cash deal, expanding its presence in Asia and Australia, both companies announced Monday.

Bally has agreed to pay SHFL stockholders $23.25 per share in cash. That price is a 24 percent premium to SHFL's closing price on the Nasdaq Stock Exchange on Monday and a 37 percent premium to SHFL's 90-day average.

Both gaming companies, which design and sell a variety of live and online gambling products...
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