Scientific Games Corporation

NASDAQ:SGMS   3:59:03 PM EDT
55.26
-0.83 (-1.48%)
Officer Changes, Mergers / Acquisitions

Scientific Games Says Institutional Investors To Acquire 34.9% Shareholding From Macandrews & Forbes

Published: 09/14/2020 11:54 GMT
Scientific Games Corporation (SGMS) - Scientific Games Announces Institutional Investors, Including Caledonia, to Acquire 34.9% Shareholding From Macandrews & Forbes.
Scientific Games Corp - Deal for $28.00 per Share.
Scientific Games Corp - Jamie Odell and Toni Korsanos to Become New Executive Chair and Executive Vice Chair, Respectively.
Scientific Games Corp - Refreshed Board to Comprise Majority of Independent Directors.
Scientific Games - Upon Deal Completion , Stockholders Agreement With Macandrews & Forbes Will Be Terminated.
Scientific Games Corp - Ronald Perelman, Current Executive Chairman Co's Board and Macandrews & Forbes Chairman and Ceo, Will Resign From Board.
Scientific Games Corp - Barry Schwartz and Frances Townsend, Two Other Macandrews & Forbes Representatives, Will Resign From Board.
Scientific Games Corp - Currently Expect to Be Free Cash Flow Positive for Full Year 2020.
Scientific Games Corp - Following Transaction, Company's Corporate Governance Provisions Will Be in Line With Typical Publicly Traded Companies.
Scientific Games Corp - No Investor is Expected to Beneficially Own More Than 9.9% of Company's Shares As a Result of Transaction.
Scientific Games Corp - Continue to Expect Capital Expenditures for 2020 As a Whole to Be in Range of $210-$240 Million.