Scientific Games to acquire NYX Gaming Group for C$2.40 per share
Scientific Games and NYX Gaming Group announced that they have entered into a definitive agreement under which Scientific Games will acquire NYX, further strengthening Scientific Games' leadership position and ability to provide the broadest portfolio of content, technologies and digital products and services for its global Gaming and Lottery customers. Under the terms of the transaction, Scientific Games will acquire all of the outstanding ordinary shares of NYX for C$2.40 per share, equivalent to an enterprise value of approximately C$775M, or approximately $631M. The transaction will be financed with cash on hand and debt. It represents a 112% premium to NYX's closing stock price on September 19, 2017; and the transaction is expected to be accretive to earnings and cash flow in the first year and leverage neutral at closing. The Arrangement Agreement contains customary deal protections in favor of Scientific Games, including a termination fee payable by NYX in certain circumstances.