Dover Downs Gaming & Entertainment/Dover Motorsports
On September 27, 2010, Dover Downs Gaming & Entertainment, Inc. (NYSE: DDE) and Dover Motorsports, Inc. (NYSE: DVD) announced that they have entered an merger agreement, whereby Motorsports stockholders will receive 0.501 shares of common stock of Gaming for each share of common stock or class A common stock of Motorsports.
Motorsports will become a subsidiary of Gaming, whose stock will continue to trade on the NYSE.
Raymond James Ltd. has acted as financial advisor to Gaming and Motorsports in connection with the Combination. Dewey & LeBoeuf LLP, Montgomery, McCracken, Walker & Rhoads, LLP and Richards, Layton & Finger, P.A. have acted as legal counsel to Gaming and Motorsports. Montgomery, McCracken, Walker & Rhoads, LLP will provide a legal opinion relative to the tax free nature of the reorganization.
Motorsports will become a subsidiary of Gaming, whose stock will continue to trade on the NYSE.
Raymond James Ltd. has acted as financial advisor to Gaming and Motorsports in connection with the Combination. Dewey & LeBoeuf LLP, Montgomery, McCracken, Walker & Rhoads, LLP and Richards, Layton & Finger, P.A. have acted as legal counsel to Gaming and Motorsports. Montgomery, McCracken, Walker & Rhoads, LLP will provide a legal opinion relative to the tax free nature of the reorganization.
