Looking to goose its stock price, International Game Technology has put itself up for sale, according to Reuters. IGT has evidently been able to keep the process top-hush for two months, as it works with Morgan Stanley on constructing a deal. Predictably, IGT stock leapt 15% at the news. However, an emaciated IGT market capitalization (down 31%) could keep prospective buyers away, as might a protracted regulatory-approval process. Still, coming off a 2Q14 drop in profit of 66%, CEO Patti Hart could use some good news.
“Private equity firms, meanwhile, could face a financing challenge stemming from a likely lengthy regulatory review, as banks funding a leveraged buyout would not be able to indefinitely hold funds aside for a deal,” quoth Reuters. Continue reading

















