WMS investors will vote on proposed buyout on May 11

Shareholders of slot machine manufacturer WMS Industries Incorporated will vote May 10 whether to accept a $1.5 billion buyout offer from lottery equipment provider Scientific Games.

WMS, which is has its corporate headquarters in Waukegan, Ill., said Monday the shareholder meeting will take place at the Waldorf-Astoria Hotel in Chicago.

Scientific Games agreed in January to pay $26 a share for all outstanding shares of WMS and assume $85 million in debt.

WMS shareholders and gaming regulators, need to approve the transaction. The Federal Trade Commission signed off of the merger last week.

WMS and Scientific Games expect the transaction to close by year’s end.

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