Light & Wonder aims to purchase remainder of SciPlay shares

Light & Wonder aims to purchase remainder of SciPlay shares

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Light & Wonder aims to purchase remainder of SciPlay shares

In a recent proposal, Light & Wonder stated its intention of purchasing the remainder of SciPlay’s shares that do not belong to the firm.

The proposed transaction would see Light & Wonder purchase about 17% of SciPlay’s outstanding shares, for which it would pay about 20 dollars per share. This would translate to a total valuation of 2.1 billion dollars for the subsidiary, which is over 25% higher than what SciPlay’s valuation was measured at just before this announcement on the 17th of May.

The company estimates that this transaction will not require any regulatory or shareholder approvals, which will make the process more seamless. While this transaction is only a proposal and Light & Wonder could decide to not go through with it, SciPlay’s stock has already jumped to around the 20-dollar mark proposed by the parent organization.

Light & Wonder currently owns about 83% of SciPlay’s shares and holds the majority of the latter’s voting rights at 98%. The parent organization added in its statement that it intends to vote in favor of this transaction if a shareholder vote takes place at SciPlay.

Furthermore, a day prior, the company received the green light for its ASX listing, through which Light & Wonder will shortly be listed on both the New York-based Nasdaq Exchange and the Australian Securities Exchange.

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