Boyd Gaming (BYD) Reports Agreement to Acquire 4 Entertainment Assets of Penn National Gaming Inc. (PENN) for $575M
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Boyd Gaming (BYD) PT Raised to $35 at Stifel Following Announced Agreement with PENN
December 18, 2017 1:17 PM ESTStifel raised its price target on Boyd Gaming (NYSE: BYD) to $35.00 (from $30.00) while maintaining a Hold rating following the company's announced agreement with PENN to acquire the operating assets of four legacy PNK properties.
Concurrent with the acquisitions, BYD has... More
Penn National Gaming (PENN) PT Raised to $33 at Stifel on Pinnacle Deal
December 18, 2017 11:54 AM ESTStifel analyst Steven Wieczynski raised his price target on Penn National Gaming (NASDAQ: PENN) to $33.00 (from $28.00) while maintaining a Buy rating after the company announced plans to acquire Pinnacle (NYSE: PNK) for a stock/cash offer totaling... More
Penn National Gaming (PENN) to Acquire Pinnacle Entertainment (PNK) for ~$2.8B
December 18, 2017 7:01 AM ESTPenn National Gaming, Inc. (NASDAQ: PENN) and Pinnacle Entertainment, Inc. (NASDAQ: PNK) (Pinnacle) announced today that they have entered into a definitive agreement under which Penn National will acquire Pinnacle in a cash and stock transaction valued at approximately $2.8 billion. Under the terms of the agreement, Pinnacle shareholders will receive $20.00 in cash and 0.42 shares of Penn National common stock for each Pinnacle share, which implies a total purchase price of $32.47 per Pinnacle share based on Penn Nationals closing price on December 15, 2017. The transaction reflects a 36% premium for Pinnacle... More