SciPlay Board of Directors committee to consider Light & Wonder’s acquisition proposal
The deal would allow Light & Wonder to purchase 17% of the remaining equity interest.
SciPlay Corporation has released details regarding its Board of Directors and a recent committee formed to look over an acquisition proposal. The committee will “review and evaluate” a May 18 non-binding agreement sent by Light & Wonder.
Under the terms of the proposed transaction, Light & Wonder would acquire SciPlay’s remaining 17% equity interest not previously owned for a cash price of $20.00 per share.
The committee is made up of SciPlay’s independent directors which include Gerald Cohen, April Henry, Michael Marchetti and William Thompson. Cohen and Henry will serve as Co-Chairs, with Marchetti and Thompson functioning as committee members.
Formerly known as Scientific Games Corporation, Light & Wonder employs more than 6,000 team members on six continents. The company says it remains focused on developing quality games for players and maintaining a high level of integrity.
SciPlay released a statement to let shareholders know that Light & Wonder has not yet made an official offer.
The group said, “The company cautions its shareholders and others considering trading in its securities that neither the board nor the special committee has made any decision with respect to the proposed transaction.
“There can be no assurance that any definitive offer will be made by Light & Wonder, that a definitive agreement will be executed relating to the proposed transaction or that this or any other transaction will be approved or consummated.”
The company went on to add that neither SciPlay nor the committee “intend to comment further” until an update is necessary.
SciPlay recently collaborated with actor and television host Jerry O’Connell to increase fan engagement during its Quick Hit Slots “Winning Day” campaign. The ads featured O’Connell walking a “Vegas Strip” that is full of Quick Hit Slots signage.
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