Farallon Capital Raises Stake in GTECH (GTK) Following Recent Drop
In an 13D filing after the close on GTECH Holdings Corp. (NYSE: GTK), Farallon Capital and related funds and accounts disclosed a 7.7% (9.8 million shares) stake in the company. The stake appears higher than past filings indicate.
The group reported purchasing a number of shares on 07/20 and after, which was just after Texas state investigators criticized the company's business practices outside the US. Earlier in the year, GTECH agreed to be acquired by Lottomatica for $35 per share. Shares of GTK dropped 4.37% on 07/20 and another 1.86% on 07/21 following the Texas news on fears the investigation could threaten the acquisition by Lottomatica.
Shares of GTECH Holdings are trading up 0.27% to $33.78 in mid-day action Tuesday.
The group reported purchasing a number of shares on 07/20 and after, which was just after Texas state investigators criticized the company's business practices outside the US. Earlier in the year, GTECH agreed to be acquired by Lottomatica for $35 per share. Shares of GTK dropped 4.37% on 07/20 and another 1.86% on 07/21 following the Texas news on fears the investigation could threaten the acquisition by Lottomatica.
Shares of GTECH Holdings are trading up 0.27% to $33.78 in mid-day action Tuesday.
posted by Lon at 11:16 AM
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