Digital games developer SciPlay Corporation has revealed that its board of directors has established a special committee comprising independent directors to evaluate a recent acquisition proposal from Light & Wonder. This proposal entails the acquisition of SciPlay’s remaining 17 percent equity interest at a cash price of $20.00 per share. The board and the special committee are yet to make any decisions regarding this proposition, and there is no assurance of a definitive offer or agreement at this stage.
Reviewing the Acquisition Proposal:
SciPlay’s board of directors has taken the proactive step of forming a special committee of independent directors to comprehensively assess Light & Wonder’s acquisition proposal. The special committee will be responsible for thoroughly evaluating the terms and conditions put forward in the proposition.
Proposed Transaction Details:
The proposed transaction entails Light & Wonder acquiring SciPlay’s remaining 17 percent equity interest. This acquisition would be executed at a cash price of $20.00 per share. It is essential to highlight that the board, as well as the special committee, have not reached any conclusions regarding this proposal, indicating that a rigorous review process is underway.
Caution to Shareholders:
SciPlay has issued a word of caution to its shareholders and all those considering trading its securities. The company emphasizes that no definitive decisions have been made by the board or the special committee in connection with the proposed transaction. It is important to understand that the process is still in its evaluation phase, and various factors may influence the final outcome.
No Assurances of a Definitive Offer:
The announcement makes it clear that there is no guarantee of a definitive offer from Light & Wonder. Additionally, the execution of a final agreement related to the proposed transaction is uncertain, and any such transaction’s approval or completion is not assured.
SciPlay’s decision to form a special committee to review Light & Wonder’s acquisition proposal reflects the company’s commitment to transparency and thorough evaluation of significant business decisions. Shareholders and stakeholders are advised to stay informed about the developments in this ongoing process. The outcome of this review will significantly impact SciPlay’s future and strategic direction.