This morning, it was announced that Scientific Games (NASDAQ:SGMS) would acquire WMS Industries (NYSE:WMS) in a deal worth approximately $1.5 billion, or $26 per share. The acquisition was approved by both boards and will be immediately accretive to earnings. The combined company will be well positioned in the gaming industry with product lines including gaming machines and content, public and private lotteries and instant lottery tickets.
Shares of WMS soared over 50% this morning, approaching the buyout price of $26 per share, while SGMS shareholders applauded the moved as well, sending the company higher by over 21%.
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