Pinnacle (PNK) and Ameristar (ASCA) Receive 'Second Request' from FTC
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Pinnacle Entertainment, Inc. (NYSE: PNK) and Ameristar Casinos, Inc. (Nasdaq: ASCA) announced today that on February 11, 2013 they received a request for additional information and documentary materials (a "Second Request") from the Federal Trade Commission ("FTC") regarding Pinnacle's proposed acquisition of Ameristar. The information request was issued under notification requirements of the Hart-Scott-Rodino Antitrust Improvements Act of 1976 ("HSR Act").
The effect of the Second Request is to extend the waiting period imposed by the HSR Act until 30 days after each company has substantially complied with the Second Request, unless that period is extended voluntarily by the companies or terminated sooner by the FTC. The companies intend to expeditiously respond to the information request and to continue to work cooperatively with the FTC in connection with this review. Completion of the transaction remains subject to the expiration or termination of the waiting period under the HSR Act, customary closing conditions, approval by Ameristar's stockholders, and required regulatory approvals. Pinnacle and Ameristar continue to expect the transaction to close during the second or third quarter of 2013.
The effect of the Second Request is to extend the waiting period imposed by the HSR Act until 30 days after each company has substantially complied with the Second Request, unless that period is extended voluntarily by the companies or terminated sooner by the FTC. The companies intend to expeditiously respond to the information request and to continue to work cooperatively with the FTC in connection with this review. Completion of the transaction remains subject to the expiration or termination of the waiting period under the HSR Act, customary closing conditions, approval by Ameristar's stockholders, and required regulatory approvals. Pinnacle and Ameristar continue to expect the transaction to close during the second or third quarter of 2013.
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