Robert Olstein Comments on International Game Technology

Sep 10, 2014

On July 16, 2014, International Game Technology (IGT) announced that it has entered into a definitive merger agreement with GTECH S.p.A. for the acquisition of International Game Technology at a premium to the Fund’s cost. Following the announcement, the Fund liquidated its remaining position in International Game Technology based on a small deviation between the stock price and our calculation of intrinsic value.

From Robert Olstein (Trades, Portfolio)’s The Olstein Strategic Opportunities Fund’s 2014 Second Quarter Letter to Shareholders.

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