DEQ Systems Corp shareholders announce special resolution approval for Scientific Games acquisition.
[dropcap]D[/dropcap]EQ Systems Corp, one of the market leaders in table games, progressive systems and utility solutions, has confirmed that its shareholders have approved a special resolution authorizing the previously announced plan of arrangement pursuant to which SG Canada Acquisitions, Inc., a wholly-owned subsidiary of Scientific Games Corporation, will acquire all of the outstanding common shares in the capital of DEQ for a cash payment of CDN$0.38 per common share of DEQ. The special resolution was approved by 96.49% of the votes cast by shareholders on Wednesday, 3 November, 2016.
The plan of arrangement is also subject to the approval of the Superior Court of Québec (Commercial Division) at a final hearing which is scheduled to be held on November 10, 2016 in Montreal, Quebec at 9:00 a.m. (EST) or as soon thereafter as counsel may be heard. It is anticipated that the arrangement transaction will be completed in Q4 2016 or the first quarter of 2017.