Lottomatica advances Cirsa merger, with compensation rights for dissenting shareholders
Lottomatica said Cirsa shareholders who vote against the proposed cross-border merger will be entitled to surrender their shares for appropriate compensation under Spanish law. Lottomatica shareholders will have no equivalent withdrawal right, and the transaction requires approval at the Italian company’s meeting on 23 November. The proposed board expansion is conditional on completion.
The proposed merger sets different exit rights for shareholders of the two gambling companies and remains subject to a vote.