shareholders of theScore approve acquisition by Penn National Gaming

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Score media and gaming (theScore) Shareholders voted to approve the proposed acquisition. Penn National Gaming Ink..

At the Special Shareholders’ Meeting on October 12, 99.96% of the shareholders’ votes were in favor and only 0.04% were against.

Back in August, Penn National Gaming and Score Media and Gaming Conclude a formal contract This will give Pennation a score of about $ 2 billion in cash and stock.

Under the terms of the agreement, theScore shareholders will receive $ 17 in cash and 0.2398 Pennational Common Shares for each of theScore shares. This means a total purchase price of $ 34 per share.

When the transaction is announced Jay SnowdenPennation’s President and CEO commented: “We are excited to acquire theScore, Canada’s number one sports app and North America’s third most popular sports app.

“TheScore’s unique media platform and state-of-the-art state-of-the-art technology strongly complement Barstool Sports and its popular personality and content reach.”

John Levay, TheScore Chairman and CEO said: I’m proud of theScore team and all of our achievements, and believe it’s time to take the next step and work with Pennation’s company, which has the resources and scale to accelerate its business. .. “

Shareholders of Penn National Gaming have not yet voted for the proposed acquisition.

The transaction was not initially scheduled to close until the first quarter of 2022, but is now scheduled to close on October 19, with the approval of the British Columbia Supreme Court.

Upon completion of the transaction, current Pennation and Score shareholders will hold approximately 93% and 7% of the company’s outstanding shares, respectively.

shareholders of theScore approve acquisition by Penn National Gaming

Source link shareholders of theScore approve acquisition by Penn National Gaming

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