The boards of Gamesys and Bally’s announced that they had come to an agreement on a £2bn ($2.74bn/€2.31bn) deal in March of this year.
Under the deal, Lee Fenton, currently chief executive of Gamesys, would become chief executive of the combined group, while Bally’s chief executive George Papanier would remain in charge of the land-based business.
Bally’s has offered Gamesys shareholders either a cash option or a share option to acquire the business. Gamesys shareholders may either receive £18.50 or 0.343 Bally’s shares per share in the Jackpotjoy operator.
Gamesys’ board of directors have already opted to take up the share option for all of their stakes, with the exception of finance director Michael Mee, who will exchange his holding for a combination of cash and shares.