(Reuters) - The investment group bid $67 a share for Penn National,
which operates 18 casinos and horse racing tracks, a 31 percent
premium over its Thursday closing price. The deal also includes
$2.8 billion in assumed debt.
The buyout comes amid a flurry of casino deals. The world's
largest casino operator, Harrah's Entertainment Inc. ,
is in the process of being acquired by private equity firms for
$17 billion, while smaller local operator Station Casinos Inc.
is in midst of a $5.4 billion management-led buyout.
Read more at Reuters.com Mergers News
which operates 18 casinos and horse racing tracks, a 31 percent
premium over its Thursday closing price. The deal also includes
$2.8 billion in assumed debt.
The buyout comes amid a flurry of casino deals. The world's
largest casino operator, Harrah's Entertainment Inc. ,
is in the process of being acquired by private equity firms for
$17 billion, while smaller local operator Station Casinos Inc.
is in midst of a $5.4 billion management-led buyout.
Read more at Reuters.com Mergers News
No comments:
Post a Comment