Bally's Corp to be acquired by top shareholder (updated)

Bally's

25/07/2024 13:21

(Adds details from release)
       July 25 (Reuters) - Bally's Corporation  BALY.N  has
agreed to be acquired by Standard General, the company's largest
stockholder, in a transaction that values the casino and gaming
company at $4.6 billion, including debt.
    The hedge fund, which owns a near 23% stake in Bally's, has
agreed to pay $18.25 per share in cash for remaining shares, a
premium of about 35% to the company's last closing price.   
        Shares of Bally's jumped nearly 26% in pre-market
trading. 
  
     

 (Reporting by Ananta Agarwal in Bengaluru; Editing by Arun
Koyyur)
 ((Ananta.agarwal@thomsonreuters.com;))