Why Are SciPlay Shares Trading Lower Premarket?

December 23, 2021 6:15 AM | 1 min read | Make a Comment

SciPlay Corp SCPL, the maker of mobile and web games, could not reach an agreement with the majority owner Scientific Games Corp (NASDAQ: SGMS), regarding the offer.
Scientific Games, a prominent supplier to the gambling industry, expressed its withdrawal from the offer.
The two sides failed to come to terms after a special committee of SciPlay's board rejected Scientific Games' initial stock-swap offer.
Scientific Games, which already owned 81% of SciPlay, had offered 0.25 of its shares for each share of SciPlay it did not already hold.
Price Action: SCPL shares traded lower by 17.1% at $12.82 in the premarket session on the last check Thursday.