On January 31, 2013, Scientific Games Corporation and WMS Industries Inc. announced that they have entered into a definitive agreement under which Scientific Games will acquire WMS for US$26.00 in cash per common share or approximately US$1.5 billion.
Cravath represented BofA Merrill Lynch and Credit Suisse in connection with arrangement of committed financing for the transaction. The acquisition, which is subject to the approvals of WMS shareholders and gaming regulatory authorities and other customary closing conditions, is expected to be completed by the end of 2013.
The Cravath team included partners Michael S. Goldman and Craig F. Arcella and associates Jonathan L. Davis, Allison M. Wein and Katerina M. Novak.
