Special Committee Of Bally's Retains Financial And Legal Advisors In Connection With Standard General's Proposal
Portfolio Pulse from Benzinga Newsdesk
Bally's Corporation's special committee has engaged Macquarie Capital and law firms Potter Anderson & Corroon LLP and Sullivan & Cromwell LLP to evaluate a preliminary acquisition proposal from Standard General. No decisions have been made regarding the proposal, and there's no guarantee of a definitive offer or transaction completion.
March 28, 2024 | 12:33 pm
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Bally's Corporation is considering an acquisition proposal from Standard General, with no definitive decisions made yet.
The engagement of financial and legal advisors by Bally's special committee to evaluate the acquisition proposal indicates a serious consideration of the offer, but the lack of a definitive decision or guarantee of a transaction suggests uncertainty. This situation could lead to speculative trading, but without concrete developments, the impact on the stock price is likely to be neutral in the short term.
CONFIDENCE 80
IMPORTANCE 90
RELEVANCE 100