IGT, ANCHOR SHAREHOLDERS OK MERGER

December 20, 2001 12:23 AM
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Shareholders for both International Game Technology (IGT) and Anchor Gaming on Tuesday approved a merger of the companies.

The $1.4 billion merger is expected to be completed by the end of January 2002.

IGT, which already controls about 66% of the U.S. market for slot machines, will gain Anchor's smaller share of the market, plus its expertise in video gaming technology.

Although IGT stands to corner an even larger segment of the market, the U.S. Federal Trade Commission signed off on the deal last week.