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Italy's GTECH to buy gaming company IGT for $6.4 bln including debt

Reuters - UK Focus

July 16 (Reuters) - Italy's GTECH SpA will buy International Game Technology (NYSE: IGT - news) in a cash-and-stock deal valued at $6.4 billion, including net debt, the companies said on Wednesday.

GTECH will pay $4.7 billion in cash and stock and the assumption of $1.7 billion in net debt, the companies said in a statement.

IGT and GTECH will combine under a newly formed holding company based in the United Kingdom. The new company will apply for listing solely on the New York Stock Exchange.

IGT shareholders will receive a total of $18.25 per share in a combination of $13.69 in cash and 0.1819 ordinary share of the new company for each share held. (Reporting by Supriya Kurane in Bangalore; Editing by Gopakumar Warrier)