LNW News: Light & Wonder Boosts Portfolio With Strategic Buyout: Stock to Gain? - 21st Feb 2025, 12:46am

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Light & Wonder, Inc. LNW recently entered into a definitive agreement with Grover Gaming to acquire the latter’s charitable Gaming Assets for $850 million cash and an additional four-year revenue-based earn out of up to $200 million cash. LNW will fund the acquisition with a combination of incremental debt financing and existing cash. The company expects the net debt leverage ratio will remain within the target range of 2.5x to 3.5x, post buyout.

The transaction subject to regulatory app...

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