Global Cash Access to Buy Multimedia Games for $1.2B

Mergers and AcquisitionsReuters

Global Cash Access Holdings Inc, which provides cash services to casinos, said it would buy slot machine maker Multimedia Games Holding Co Inc for about $1.2 billion.

The offer price of $36.50 per share represents a premium of 31 percent to Multimedia's Friday closing.

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Global Cash Access said it would finance the deal with cash on hand and debt, for which it has secured committed debt financing. (Reporting By Lehar Maan in Bangalore; Editing by Saumyadeb Chakrabarty)