Bally's Forms Special Committee To Evaluate Preliminary, Non-Binding Acquisition Proposal By Standard General
Portfolio Pulse from Benzinga Newsdesk
Bally's Corporation (NYSE:BALY) has formed a special committee to evaluate a preliminary, non-binding acquisition proposal from Standard General. The proposal, dated March 11, 2024, offers $15.00 in cash per share for all outstanding shares of Bally's not already owned by Standard General. The proposal's details are available in Standard General's Schedule 13D/A filing with the SEC. There is no guarantee that a definitive offer will be made, accepted, or that a transaction will be completed.
March 12, 2024 | 2:44 pm
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Bally's Corporation is evaluating a buyout proposal from Standard General at $15.00 per share. The proposal is preliminary and non-binding, with no certainty of a definitive offer or transaction completion.
The announcement of a potential acquisition usually leads to positive market sentiment towards the target company's stock, as investors anticipate a premium on the current trading price. However, since the proposal is non-binding and there's no certainty of a deal, the positive impact might be moderated.
CONFIDENCE 80
IMPORTANCE 90
RELEVANCE 100