Shares of Scientific Games Corp (SGMS) are trading with modest gains of 6.2% so far in 2013, after having witnessed quite some volatility. The global supplier of solutions to lottery and gaming organizations announced the acquisition of WMS Industries (WMS) on the last day of January.
The Deal
Scientific Games Corporation announced that it has agreed to acquire WMS Industries, the second largest machine supplier of the country according to its acquisition presentation.
Scientific Games will pay $26.00 per share in cash for each outstanding share of WMS, valuing the equity of the firm at $1.55 billion. WMS operates with $85 million in debt and $55 million in cash, for a net debt position of $30 million, for a total enterprise value of $1.58 billion.
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