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Gtech Agrees to Acquire Slot-Machine Maker IGT for $4.7 Billion

Gtech SpA agreed to buy International Game Technology for $4.7 billion in cash and stock, uniting the world’s largest provider of lottery systems with the biggest slot-machine maker.

Gtech will pay $18.25 for each share for Las Vegas-based IGT, or $13.69 in cash plus 0.1819 shares in a newly formed holding company, the Italian company said in a statement today. That’s about 18 percent more than IGT’s last closing price of $15.50. The total transaction value is about $6.4 billion including about $1.75 billion in existing IGT debt, Gtech said.