AGS Announces HSR Waiting Period Expiry
Deal News | Dec 11, 2024 | Globenewswire
PlayAGS, a global gaming supplier listed on the NYSE, announced that the Hart-Scott-Rodino Act waiting period has expired for its previously announced acquisition by affiliates of Brightstar Capital Partners. The transaction, valued at $12.50 per share in cash, represents a significant step forward in the planned acquisition process, subject to remaining regulatory approvals and other conditions. AGS is known for its high-performance slot products and diverse gaming content, while Brightstar is a middle-market private equity firm with expertise in business services and technology sectors. The acquisition is expected to be completed in the second half of 2025, pending successful satisfaction of all closing conditions, regulatory approvals, and the assent of AGS stockholders. The transaction reflects Brightstar's strategy of partnering with businesses where significant value can be added through operational improvements and strategic guidance.
Sectors
- Gaming
- Private Equity
- Antitrust and Regulatory Compliance
Geography
- United States – Both AGS and Brightstar Capital Partners are based in the United States, and the regulatory reference to the Hart-Scott-Rodino Act indicates US jurisdiction.
Industry
- Gaming – AGS is a global gaming supplier known for providing various gaming solutions including slot and table products.
- Private Equity – Brightstar Capital Partners is a private equity firm specializing in transformative investments in middle-market companies.
- Antitrust and Regulatory Compliance – The article discusses the expiration of the HSR Act waiting period, which is a regulatory compliance matter crucial to M&A activities.
Financials
- $12.50/share – The cash purchase price per share offered by Brightstar Capital Partners to acquire AGS.
- $4 billion+ AUM – The amount of assets under management by Brightstar Capital Partners.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| PlayAGS, Incorporated | Target Company | Company | A global gaming supplier involved in the proposed acquisition by Brightstar Capital Partners. |
| Brightstar Capital Partners | Bidding Company | Company | A middle market private equity firm orchestrating the acquisition of AGS. |