This stock looks set to leave the ASX boards in the near future after accepting a takeover deal. Guess which ASX All Ords stock is rocketing 34% on takeover deal You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources , and more. Learn More Ainsworth Game Technology Ltd (ASX: AGI) shares are having a very strong start to the week. In morning trade, the ASX All Ords stock is up a sizeable 34% to 99 cents. This compares to a 0.95% gain by the ASX 200 index at the time of writing. Investors have been fighting to get hold of the gaming technology company's shares after it received and accepted a takeover offer. ASX All Ords stock jumps on takeover deal This morning, Ainsworth Game Technology revealed that it has entered into a scheme implementation deed (SID) with Novomatic AG. This will see the latter acquire all the outstanding shares in the ASX All Ords stock that it does not currently have an interest in. Novomatic currently has a relevant interest in 52.9% of the Ainsworth Game Technology shares on issue. According to the release, if the scheme is implemented, shareholders will receive $1.00 cash per share, less any permitted dividends declared and paid before closing. This implies an equity value of $336.8 million and enterprise value of $336.5 million for the ASX All Ords stock, representing a multiple of ~7x enterprise value/FY 2024 EBITDA. It also represents a 35% premium to the where the company's shares ended last week. Commenting on the deal, the company's chair, Daniel Gladstone, said: The proposal put forward by Novomatic. who is already the majority shareholder of AGI, represents a significant premium to long term trading value and is compelling for AGI minority shareholders. The IBC [Independent Board Committee] have carefully evaluated the proposed Scheme Consideration against the company's medium-and long-term growth prospects and alternative opportunities, and has unanimously formed the view that the proposal represents attractive and certain value for AGI minority shareholders. What's next? The deal is not done yet. It remains subject to a number of conditions. This includes relevant approvals from ASIC and ASX, approval by the requisite majorities of AGI shareholders, approval by the Federal Court of Australia, and an independent expert concluding that the scheme is in the best interests of shareholders. The ASX All Ords stock advised that Novomatic has already received approval from the Australian Foreign Investment Review Board in respect of the scheme. Novomatic has also advised that it expects to fund the scheme consideration through a combination of existing cash reserves and third-party debt financing and requires no due diligence to complete the acquisition.