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- iGaming solutions provider NeoGames SA (NASDAQ:NGMS) shares are jumping Monday morning as it agreed to be acquired by Australia's Aristocrat Leisure Limited, a gaming and technology company .
- NeoGames will be acquired for $29.50 per share in an all-cash transaction, representing an enterprise value of approximately $1.2 billion for NeoGames.
- The price represents a premium of approximately 130% to NeoGames’ May 12, 2023, closing price.
- Under the terms of the Agreement, NeoGames will transfer its statutory seat, registered office and seat of central administration from Luxembourg to the Cayman Islands, with a wholly owned subsidiary of Aristocrat merging into NeoGames.
- “After careful consideration, the Board determined that Aristocrat’s proposal provides shareholders with compelling value, further validating the strength of the business that NeoGames has built,” said CEO Moti Malul.
- The transaction is expected to be completed within 12 months.
- NeoGames shareholders, who hold a total of approximately 20.38 million shares, representing 61% of NeoGames’ outstanding shares, have agreed to vote in favor of the transaction.
- Price Action: NGMS shares are trading higher by 120% at $28.25 in premarket on the last check Monday.
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