Las Vegas Sun

November 12, 2009

Currently: 73° | Complete forecast | Log in

Buyback offer oversubscribed

Monday, Jan. 10, 2000 | 11:54 a.m.

International Game Technology said today its offer to buy back 11 million shares at $21 a share, which expired Friday, was oversubscribed.

The Reno-based slot and casino systems manufacturer said holders of 24.9 million shares, or about 28.9 percent of the amount outstanding, tendered stock into the offer.

As a result, IGT said, it will pro-rate the shares it will re-purchase at about 44.3 percent of those tendered. The number and ratio are subject to final verification, the company said.

IGT stock was up 18.75 cents a share, to $20.50, in midday trading today.

archive

  • Most Read
  • Discussed
  • Most E-mailed

Complete Listing

Calendar »

  • 12 Thu
  • 13 Fri
  • 14 Sat
  • 15 Sun
  • 16 Mon

All events on Thursday »