Light & Wonder merger with Sciplay sought by Engine Capital

Finance News

Engine Capital an investor in Light & Wonder and its subsidiary Sciplay is urging the gaming companies to merge in an effort to improve value for their shareholders. 

Engine Capital, which has a 5.7% in SciPlay, wants the company to consider selling itself to to Light & Wonder for $15 to $16/share, according to a letter Engine Capital wrote to the board’s of both companies on Monday. Engine Capital also has a stake in Light & Wonder. 

“If a deal can’t be reached between both Companies or if Light & Wonder is no longer interested to acquire SciPlay, we don’t believe this is desirable and we would then encourage SciPlay to start a review of its strategic alternatives and look for a buyer with the blessing of Light & Wonder,” Engine Capital Managing Partner Arnaud Ajdler and Partner Brad Favreau wrote in the letter.