WEST GREENWICH, R.I. — Lottery systems supplier GTECH has agreed to repurchase some 5 million of the company’s common stock, worth some $130 million, from Tiger Management, its largest shareholder. The price per purchased share is $26.
The transaction is in addition to the $100 million open market share repurchase plan authorized by the GTECH board of directors last June, GTECH officials said. $85 million remains available for that plan.
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Shares of GTECH yesterday closed down $1.69, or more than 6 percent, at $25.91.
