Multimedia Games To Buy PokerTek For $1.35/Shr Cash - Quick Facts

(RTTNews) - Multimedia Games Holding Company, Inc.'s (MGAM) subsidiary, Multimedia Games, Inc., has agreed to acquire PokerTek Inc. (PTEK) at a price of $1.35 per share in cash.

Subject to the approval by holders of a majority of the company's common shares, the receipt of certain gaming approvals, and other customary closing conditions, the transaction may close in calendar 2014.

PokerTek's board unanimously approved the merger deal with Multimedia Games and has urged that the company's shareholders adopt the merger agreement.

Burrill Securities acted as financial advisor, and Morse, Zelnick, Rose & Lander, LLP acted as legal advisor, to the Company.