Private equity firm Apollo Funds (APO) on July 26, 2024, announced that it had signed a merger agreement to acquire Everi Holdings Inc. (EVRI) and International Game Technology’s (IGT) gaming and digital business in a deal worth $6.3 billion.
Under the terms of the agreement, IGT will receive $4.05 billion of gross cash proceeds for IGT Gaming and Everi stockholders will receive $14.25 per share in cash, from funds managed by affiliates of Apollo Global Management, representing a premium of 55.91% from Everi’s last close on Thursday.