WMS Industries, Scientific Games Sued Over $1.5 Billion Sale
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WMS Industries Inc., the maker of gaming and video-lottery machines, was sued by a shareholder over claims the company’s proposed $1.5 billion acquisition by Scientific Games Corp. is unfair.
The proposed deal is the product of an “opportunistic process” in which WMS directors “unreasonably” agreed to an unfair price, lawyers for WMS investor David Shaev said in a complaint made public today in Delaware Chancery Court. The complaint, which seeks to bar the transaction, also names Scientific Games as a defendant.