Antitrust Law Daily Wrap Up, ACQUISITIONS & MERGERS NEWS: Scientific Games and Bally announce early termination of Hart-Scott-Rodino Act waiting period, (Aug 21, 2014)

Gaming products providers Scientific Games Corporation and Bally Technologies, Inc. received notice of early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (HSR) with respect to Scientific Games' pending acquisition of Bally, the companies announced yesterday. The acquisition is expected to be completed in early 2015.

As announced on August 1, 2014, Scientific Games has agreed to acquire all of the outstanding Bally common stock for $83.30 in cash per share. The acquisition will be financed with debt and cash on hand, and Scientific Games has obtained committed debt financing for the transaction, which is not subject to a financing contingency.

Termination of the HSR waiting period satisfies one of the conditions required for completion of the transaction. The transaction remains subject to approval by Bally's stockholders, receipt of certain gaming regulatory approvals and other customary conditions.

Scientific Games Corporation is a leading developer of technology-based products and services and associated content for worldwide gaming and lottery markets. Founded in 1973, Scientific Games' portfolio includes instant and draw-based lottery games; electronic gaming machines and game content; server-based lottery and gaming systems; sports betting technology; loyalty and rewards programs; and social, mobile and interactive content and services.

Founded in 1932, Bally Technologies provides the global gaming industry with innovative games, table game products, systems, mobile, and iGaming solutions that drive revenue and provide operating efficiencies for gaming operators

Companies: Scientific Games Corporation; Bally Technologies

News: AcquisitionsMergers Antitrust