Global Cash Access to Buy Multimedia Games for $1.2B

Global Cash Access Holdings Inc, which provides cash services to casinos, said it would buy slot machine maker Multimedia Games Holding Co Inc for about $1.2 billion.

The offer price of $36.50 per share represents a premium of 31 percent to Multimedia's Friday closing.

Global Cash Access said it would finance the deal with cash on hand and debt, for which it has secured committed debt financing. (Reporting By Lehar Maan in Bangalore; Editing by Saumyadeb Chakrabarty)