Dec 15, 2001 10:54 PM

The Federal Trade Commission cleared the proposed purchase of Anchor Gaming by gaming giant IGT. The deal is valued at $1.4 billion.

Shareholders of the respective companies are scheduled to vote on the merger on Tuesday.

Gaming regulators in various jurisdictions must still approve the merger.

IGT currently controls about two-thirds of the U.S. gaming equipment market.

Under the deal, each Anchor share will be exchanged for one share of IGT stock. IGT also will assume about $367 million in Anchor debt.