Key Developments: Ameristar Casinos Inc (ASCA.O)
26.41USD
24 May 2013
$-0.02 (-0.08%)
$26.43
$26.41
$26.43
$26.38
117,670
299,824
$27.18
$15.04
Latest Key Developments (Source: Significant Developments)
Ameristar Casinos Inc Declares Cash Dividend
Ameristar Casinos Inc announced that its Board of Directors has declared a cash dividend of $0.125 per share, payable on June 14, 2013 to stockholders of record as of May 31, 2013. Full Article
Ameristar Casinos Inc Declares Cash Dividend
Ameristar Casinos Inc announced that its Board of Directors has declared a cash dividend of $0.125 per share, payable March 15, 2013 to stockholders of record as of Feb. 28, 2013. Full Article
WeissLaw LLP Investigates Ameristar Casinos Inc Acquisition
WeissLaw LLP announced that it is investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors of Ameristar Casinos Inc arising from its agreement for Ameristar to be acquired by Pinnacle Entertainment Inc. (Pinnacle) in a transaction valued at approximately $900 million. Under the terms of the proposed transaction Ameristar shareholders will receive $26.50 in cash for each Ameristar share they own.WeissLaw LLP is investigating whether Ameristar`s Board acted in the best interests of its public shareholders by actively shopping the Company to maximize shareholder value for Ameristar`s public shareholders, prior to entering into the proposed transaction with Pinnacle. Ameristar stock traded at $27.07 as recently as January 17, 2013. Full Article
Law Office of Brodsky & Smith, LLC Announces Investigation Of Ameristar Casinos Inc
Law office of Brodsky & Smith, LLC announced that it is investigating potential claims against the Board of Directors of Ameristar Casinos Inc relating to the proposed acquisition by Pinnacle Entertainment, Inc. Under the terms of the transaction, Ameristar shareholders will receive only $26.50 in cash for each share of Ameristar stock they own. The investigation concerns possible breaches of fiduciary duty and other violations of state law by the Board of Directors of Ameristar for not acting in the Company`s shareholders' best interests in connection with the sale process to Pinnacle. The transaction may undervalue the Company as Ameristar expects to open its 500 million Lake Charles, La. project in 2014. In addition, an analyst has set a price target for Ameristar stock at $29.00 per share. Full Article
Law Firm of Levi & Korsinsky, LLP Notifies Investors of Claims of Breaches of Fiduciary Duty by Board of Ameristar Casinos Inc
Levi & Korsinsky notified investors of Ameristar Casinos Inc of claims of breaches of fiduciary duty and other violations of state law against the board of directors of the Company in connection with the sale of the Company to Pinnacle Entertainment, Inc. A complaint was filed in Nevada state court. Under the terms of the transaction, Ameristar shareholders will receive $26.50 for each share of Ameristar stock they own. The transaction has total approximate value of $869 million. The claims concern whether the Ameristar Board of Directors breached their fiduciary duties to stockholders by failing to adequately shop the Company before entering into this transaction and whether Pinnacle Entertainment, Inc. is underpaying for Ameristar shares, thus unlawfully harming Ameristar stockholders. In particular, at least one analyst set a price target for Ameristar stock at $33.00 per share. Full Article
Law Office of Brodsky & Smith, LLC Announces Investigation Of Ameristar Casinos Inc
Law office of Brodsky & Smith, LLC announced that it is investigating potential claims against the Board of Directors of Ameristar Casinos Inc relating to the proposed acquisition by Pinnacle Entertainment, Inc. (Pinnacle). Under the terms of the transaction, Ameristar shareholders will receive only $26.50 in cash for each share of Ameristar stock they own. The investigation concerns possible breaches of fiduciary duty and other violations of state law by the Board of Directors of Ameristar for not acting in the Company's shareholders' best interests in connection with the sale process to Pinnacle. The transaction may undervalue the Company as Ameristar expects to open its 500 million Lake Charles, La project in 2014. In addition, an analyst has set a price target for Ameristar stock at $29.00 per share. Full Article
Robbins Umeda LLP Investigates Ameristar Casinos Inc Acquisition
Shareholder rights attorneys at Robbins Umeda LLP announced that it is investigating possible breaches of fiduciary duty and other violations of the law by members of the Board of Directors of Ameristar Casinos Inc in connection with their efforts to sell the company to Pinnacle Entertainment, Inc. On December 21, 2012, Ameristar Casinos and Pinnacle Entertainment announced they had entered into a definitive merger agreement under which Pinnacle Entertainment will acquire Ameristar Casinos through an all cash offer. The Board of Directors' Actions May Prevent Ameristar Casinos Shareholders from Receiving the Maximum Value for Their Stock Robbins Umeda LLP's investigation focuses on whether the board of directors at Ameristar Casinos is undertaking a fair process to obtain maximum value and adequately compensate its shareholders. The $26.50 per share offer price is substantially below the $31 target price maintained by an analyst at Knight Equity Research, and the $29 price set by an analyst at Imperial Capital. Further, on October 31, 2012, Ameristar Casinos announced that the company's third quarter of 2012 was one of Ameristar's most profitable ever. Given, these facts, the firm is examining whether the board of directors' decision to sell Ameristar Casinos for $26.50 per share is fair to shareholders and maximizes the value for their shares. Full Article
WeissLaw LLP Investigates Ameristar Casinos Inc Acquisition
WeissLaw LLP, announced that it is investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors of Ameristar Casinos Inc (Ameristar or the Company) arising from its agreement for Ameristar to be acquired by Pinnacle Entertainment, Inc. (Pinnacle), in a transaction valued at approximately $2.8 billion. Under the terms of the proposed transaction Ameristar shareholders will receive $26.50 in cash for each Ameristar share they own. This price is below the target price set by certain securities analysts. Full Article
Harwood Feffer LLP Announces Investigation Of Ameristar Casinos Inc
Harwood Feffer LLP Announced that it is investigating potential claims against the board of directors of Ameristar Casinos Inc. (Ameristar or the Company) concerning the proposed acquisition of the Company by Pinnacle Entertainment Inc. (Pinnacle) in a transaction valued at approximately $900 million . On December 21, 2012 , Ameristar announced that it had entered into a definitive agreement pursuant to which the Company will be acquired by Pinnacle. Under the terms of the agreement, Ameristar shareholders will receive $26.50 for each share owned. The investigation concerns whether the Ameristar board of directors is fulfilling its fiduciary duties, maximizing the value of the Company, disclosing all material benefits and costs, and obtaining full and fair consideration for Company shareholders. Full Article
Law Firm Johnson & Weaver, LLP Announces Investigation Of Fairness Of Ameristar Casinos Inc Proposed Acquisition By Pinnacle Entertainment
Law Firm Johnson & Weaver, LLP announced that it is investigating whether members of the Board of Directors of Ameristar Casinos Inc, breached their fiduciary duties in connection with that company's proposed acquisition by an investor group led by Pinnacle Entertainment. On December 21, 2012, Pinnacle Entertainment announced that it had entered into definitive merger agreements to acquire ACSA for $26.50 a share. Full Article
Fitch: Pinnacle/Ameristar Merger Highlights Emerging Trends in Regional Gaming Markets
(The following statement was released by the rating agency) NEW YORK, March 22 (Fitch) The pending merger of Pinnacle Entertainment, Inc. and Ameristar Casinos, Inc. highlights trends in the regulatory and market environments in the gaming jurisdictions of Indiana, Louisiana, Missouri, Ohio and Texas, according to Fitch Ratings' new 'Eye in the Sky' series of reports. In particular, legislation related to potential state gaming expansion and any fallout related to recent anti-trust concerns
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