International Game Technology (IGT) has popped after Reuters reported that the casino-game maker had begun looking into selling itself. From the Reuters article:
International Game Technology the Las Vegas-based slot machine maker, has hired Morgan Stanley (MS) to explore a sale as the gaming industry pursues consolidation to combat slow growth, people familiar with the matter said on Monday.
IGT, which has a market capitalization of more than $3 billion, has been working on a sale for more than two months and has attracted interest from other gaming companies as well as private equity firms, the people said.
Shares of International Game Technology have gained 11% at 3:34 p.m. today, with most of that coming in the last 35 minutes of trading, or so. Since a picture is worth a thousand words:
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