WMS shareholders approve merger agreement with Scientific Games13th May 2013 8:33 am GMT
US gaming supplier WMS Industries received shareholder approval Friday to proceed with its planned merger with Scientific Games.
The company said that approximately 75 per cent of the total outstanding shares of common stock eligible to vote were voted in favour of the adoption of the merger agreement, with shareholders also approving the non-binding advisory proposal regarding merger-related compensation.
“Today’s shareholder approval is an important milestone toward completing the pending acquisition of WMS by Scientific Games,” said Brian Gamache, chairman and chief executive of WMS. “In the meantime, we remain focused on commercializing new innovative game content and products for our casino operator customers.
“We are encouraged by the strong player acceptance of our unique new Blade and Gamefield xD gaming machines, solid performance of new games including Monopoly Legends, Spider-Man and Colossal Reels, and the ongoing growth of our interactive products and services.”
The merger is expected to be completed by the end of 2013, subject to regulatory approvals which have already been sought, at which time WMS will become a wholly owned subsidiary of Scientific Games.
WMS shareholders will be entitled to receive $26.00 in cash, without interest, for each share of WMS common stock owned at the time of the transaction’s closing.
Shares in WMS Industries Inc. (Co. Data) (NYSE:WMS) closed in New York Friday up 0.16 per cent at $25.32 per share, while shares in Scientific Games Inc. (Co. Data) (NASDAQ:SGMS) closed up 2.34 per cent at $8.73 per share.