Gaming Partners sees acquisition by Angel closing on May 1
Gaming Partners International Corporation announced that it has delivered a written communication to NASDAQ stating that it intends to consummate its merger with Angel Holdings Godo Kaisha on May 1, subject to satisfaction or waiver of all closing conditions. Under the terms of the merger agreement with Angel, stockholders of GPIC will receive $13.75 in cash in exchange for their shares. Upon the closing of the transaction, Angel will own 100% of GPIC. Therefore, because GPIC will become a wholly owned subsidiary of Angel after the closing, Angel and GPIC have agreed to take certain steps to delist GPIC's common stock from NASDAQ and to withdraw such shares from the reporting obligations under the Exchange Act.