The board of Bally's Corporation has informed investors that definitive terms for Standard General LP to acquire the gaming group have been reached.
As previously reported, Standard General, Bally's largest investor and New York private equity fund, made a $18.25 cash per share offer, which the board of directors approved, retaining about 26% of the company's shares.
Dealmakers disclosed that Bally's will continue to be openly traded on the New York Stock Exchange and that the transaction places a value on the company of about $4.6 billion.
As previously reported, Standard General, Bally's largest investor and New York private equity fund, made a $18.25 cash per share offer, which the board of directors approved, retaining about 26% of the company's shares.
Dealmakers disclosed that Bally's will continue to be openly traded on the New York Stock Exchange and that the transaction places a value on the company of about $4.6 billion.
