Zona de Azar USA – Light & Wonder Finalizes Agreement to Acquire Remaining SciPlay Shares

USA.- August 09, 2023 www.zonadeazar.com Light & Wonder announced it has entered a definitive agreement to acquire the remaining 17% equity interest in SciPlay that it does not currently own. Light & Wonder will acquire the outstanding stock for $22.95 per share in an all-cash transaction.

Light & Wonder first submitted a proposal to acquire the stock in May.

The transaction has been approved by the board of directors of Light & Wonder.

A special committee comprised solely of SciPlay’s independent directors, and advised by independent financial and legal advisors, determined that the transaction is in the best interests of SciPlay shareholders. Acting upon the special committee’s recommendation, SciPlay’s board of directors approved the transaction.

“We are excited to fully unite SciPlay with Light & Wonder, further accelerating our cross-platform strategy and creating an even stronger and more efficient platform for growth,” said Light & Wonder President and CEO Matt Wilson in a statement. “Our combined balance sheets will provide us with the flexibility to further invest in developing and launching great games cross-platform and deliver enhanced returns to shareholders. We look forward to bringing our world-class teams together and are excited to innovate and grow as one unified company for the benefit of our employees, players and shareholders.”

Gerald Cohen and April Henry, independent directors of the SciPlay board and co-chairs of the SciPlay special committee, issue a joint statement:

“This transaction is a compelling opportunity to maximize value for SciPlay shareholders and favorably positions both SciPlay and Light & Wonder,” they wrote. “Our committee conducted a careful evaluation of Light & Wonder’s proposal, with the support of independent financial and legal advisors, and we believe this combination represents the best outcome for SciPlay shareholders.”

In a release issued in May, Light & Wonder stated that the acquisition of the outstanding shares would unify its business, “enabling seamless collaboration with SciPlay that will add further momentum to the company’s already robust cross-platform strategy.” The transaction combines Light & Wonder and SciPlay balance sheets, “providing flexibility to invest cash across the enterprise where it will best drive shareholder value,” the May release stated.

The transaction is expected to close during the fourth quarter of 2023, subject to customary closing conditions.

Edited by: @Pererarte  www.zonadeazar.com