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CALIFORNIA | TECHNOLOGY | THE STATE

Gtech to Acquire NTN Communications

June 19, 1997|(Bloomberg News)

Gtech Holdings Corp. agreed to acquire Carlsbad-based NTN Communications Inc., a money-losing maker of interactive games, for about $140 million. The $5.125-a-share purchase price values NTN stock 52% higher than its closing price Tuesday of $3.375. Gtech will also acquire NTN warrants and options by paying the difference between the purchase price and their exercise price. Holders of NTN shares, warrants and options may choose to receive part of their payment in shares of LearnStar Inc., an NTN unit that provides interactive learning systems in schools. NTN shares rose $1 to close at $4.375 on the American Stock Exchange. Gtech shares fell 37.5 cents to close at $33.25 on the NYSE.

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