WMS Industries shareholders OK sale of company

WMS Industries shareholders approve $1.42 billion sale of company to Scientific Games

Associated Press

WAUKEGAN, Ill. (AP) -- WMS Industries Inc. said Friday that its shareholders approved a deal to sell the gambling equipment company to instant-win lottery ticket company Scientific Games Corp. for about $1.42 billion.

Waukegan, Ill.-based WMS said that more than 99 percent of the votes represented and cast at its special shareholder meeting, or about 75 percent of its total outstanding shares of common stock, were voted in favor of the deal.

Under the agreement originally announced in January, New York-based Scientific Games, which also makes video slot machines and other gambling systems, will pay $26 per WMS share.

The deal is expected to close by the end of the year.

In midday trading, Scientific Games shares rose 22 cents, or 2.6 percent, to $8.75. WMS rose 3 cents to $25.31.

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