Bally Shareholders Approve Scientific Games Merger (update)
By Casinomeister, Last updated Nov 21, 2014
Overwhelming vote in favour of $5.1 billion merger deal
Bally Technologies shareholders have overwhelmingly approved the company's $5.1 billion merger deal with Scientific Games, the company announced Wednesday.
Voting at a special shareholders meeting, Bally stockholders approved the merger agreement and plan of merger, dated as of August 1, 2014.
More than 99.61 percent of the votes represented and cast at the meeting, or approximately 76.97 percent of the total outstanding common stock eligible to vote as of the October 20, 2014 record date, were voted in favour of the approval of the agreement.
Stockholders also approved the non-binding advisory proposal regarding merger-related compensation with a vote of more than 65.83 percent of the votes represented and cast at the meeting.
Approval of the merger agreement by Bally's stockholders satisfies one of the conditions required to close the merger. The transaction is still subject to obtaining regulatory approvals and certain other customary closing conditions.
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