The long-awaited acquisition of Gaming Partners International Corporation (GPI) by Angel Holdings Good Kaisha finally looks like it is set to be completed. The merger was first reported over five months ago and was waiting on final approval from the shareholders of both companies.
That looks to have finally been achieved, allowing Angel to inform the NASDAQ that the merger will be officially completed as of Wednesday, May 1. This is an important step because GPI’s stock must officially be delisted on the trading platform.
The merger allowed Angel to purchase shares of GPI at $13.75 for each share of the company. With the deal now finally completed, Angel will own 100% of GPI, turning it into a subsidiary of Angel Holdings. The entire deal was for about $110 million.
The deal was looked upon as a no-brainer from the very start. Angel is one of the worldwide leaders in the manufacturing and distribution of cards for card games and the gambling industry across the globe. GPI has long developed casino gaming tables and equipment. This seemed like a match made in heaven as both major pieces of the gambling table industry would be supplied by the same company.