Lottery operator GTech SpA confirmed it was in talks to acquire New York-listed gaming provider International Game Technology (IGT).

“We are in preliminary and exploratory discussions as part of our process of a potential deal with IGT,” GTech confirmed in a brief press release on Monday.

The Milan-listed company added: “This transaction could potentially involve considering a mix of cash and capital. However, the company does not expect to require a capital increase for cash.”

GTech has already engaged advisers to help negotiate, the company said. It did not provide value for a potential bid.

IGT confirmed the sales potential in a statement on Monday.

IGT said in a statement on Monday that it is regularly considering a wide range of strategic alternatives, including “corporate consolidation, capital structure changes and corporate portfolio adjustments,” with the aim of maximizing shareholder value.

“The IGT board and senior management are currently engaged in this quest, but no decision has been made by the board on any specific alternatives available to the company.”

On Friday, Reuters reported that at least four companies were seeking IGT bids, including GTech and private equity firm Apollo Global Management LLC. So far, GTech is the only company that has confirmed negotiations with IGT. 파워볼사이트

“According to our estimates, GTech could buy IGT entirely at $17 per share with 4.3x debt to leverage, suggesting greater bidding capacity than individual suitors,” Telsey U.S.-based Telsey Advisory Group said in a report on Friday.