Aristocrat Leisure agrees to buy NeoGames for $29.50 a share in cash
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- Aristocrat Leisure Limited agreed to acquire NeoGames SA (NASDAQ:NGMS) for $29.50 a share in all-cash deal for the lottery game technology company.
- The deal, which represents an enterprise value of $1.2 billion, is expected to be completed within 12 months and includes regulator approvals, according to a statement on Sunday. The offer price represents a 130% premium to NeoGames (NGMS) closing price on Friday.
- NeoGames (NGMS) holders, who own approximately 61% of NeoGames’ outstanding shares, have executed a support agreement with Aristocrat to vote in favor of the transaction.
- Stifel is acting as NeoGames’ (NGMS) financial advisor and Latham & Watkins LLP and Herzog Fox & Neeman are acting as legal counsel to NeoGames.