Japan-based playing card manufacturer Angel Holdings Godo Kaisha is set to complete its acquisition of Gaming Partners International Corporation (GPI) on Wednesday 1 May, the companies have revealed.
GPI said on Friday that it has delivered a written communication to NASDAQ that it intends to consummate the merger on 1 May at which time it will direct NASDAQ to suspend trading in shares of GPI common stock and file a Form 25 with the United States Securities and Exchange Commission – initiating the formal process by which GPI’s stock will be delisted from NASDAQ and withdrawn from reporting requirements.
Under the terms of the merger agreement with Angel, GPI stockholders will receive US$13.75 in cash per share in exchange for their shares. Upon completion of the deal, Angel will own 100% of GPI, making GPI a wholly-owned subsidiary of the company.
GPI shareholders approved the US$110 million deal in March.
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