Entertainment Gaming Asia Inc has announced that Melco International Development Limited, through its wholly-owned subsidiary EGT Nevada Holding Inc, has effected its short-form merger of EGT Nevada into the company.
The merged entity will continue under the Entertainment Gaming Asia name as a wholly-owned subsidiary of Melco International Development.
It follows the completion of EGT Nevada’s unsolicited cash tender offer of all outstanding shares of common stock of Entertainment Gaming Asia on 13 June through which Melco increased its ownership in the company from 64.8% to 92.5% of the outstanding shares.
Pursuant to the short-form merger, the remaining untendered shares were cancelled and converted into the right to receive a cash payment equivalent to the tender price of $2.35 per share.
On Wednesday, Entertainment Gaming Asia had its stock delisted from the NASDAQ capital market and says it intends to request that its reporting obligations be suspended.
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