Penn National (PENN) Reaches Deal With Fortress and Centerbridge To Terminate Merger
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UPDATE: According to reports from CNBC's David Faber, Penn National Gaming Inc. (Nasdaq: PENN) has reached an agreement with private equity firms Fortress and Centerbridge to terminate the pending merger agreement.
As part of the deal, Penn National will receive $1.475 billion, which includes a cash termination fee and an equity infusion.
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