Microsoft, IBM said to be interested in buying IGT

Friday, June 8, 2001 | 10:54 a.m.

International Game Technology's stock is trading at a 52-week high, as rumors that the Reno slot maker could be a takeover target spread on Wall Street.

The rumors began last week when Business Week's Gene Marcial, in a column, quoted "insiders" as saying Microsoft Corp. and IBM had expressed interest in acquiring IGT. Marcial quoted an unnamed IGT executive as saying the two technology giants would be attracted to IGT by its diversification into video-based slot machines, and its release of such games as "The Price is Right" and "Austin Powers."

"Either (IBM or Microsoft) would be acceptable to Chuck (Mathewson, IGT's chief executive)," the executive told Marcial.

Since publication of the column, news services including Reuters and Dow Jones Newswires have reported on the Business Week column.

IGT stock rose 3 percent to $61.45 on May 31. The stock has risen each day since the column's publication, and traded this morning at a 52-week high of $66. That's up 83 cents from Thursday's close, and 11 percent from May 30.

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