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and Exchange Commission – initiating the formal process by which GPI’s stock will be delisted from NASDAQ and withdrawn from reporting requirements.
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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.
