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Bally Technologies to Acquire SHFL Entertainment

Shares of SHFL Entertainment (NASDAQ: SHFL) are up more than 21 percent after news that Bally Technologies (NYSE: BYI) was acquiring the company.

Bally agreed to pay $23.25 per share–a 24 percent premium to SHFL’s closing price at the close of the Monday trading day. That places a value on SHFL at $1.3 billion. The transaction was unanimously approved by both boards.

The merger will strengthen Bally’s footprint in the key markets of Australia and Asia while rounding out its product portfolio offering products for an entire gaming floor.

[stock-tools exchange="NASDAQ" symbol="SHFL" image_height="230" image_width="350"]

Disclosure: At the time of this writing, the author had no position in the company mentioned.


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