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Pinnacle Entertainment Inc To Acquire Ameristar Casinos Inc-Reuters


Friday, 21 Dec 2012 11:10am EST 

Reuters reported that Pinnacle Entertainment Inc will acquire Ameristar Casinos Inc for about $869 million to expand mainly in the U.S. Midwest and South, sending Pinnacle's shares to their highest in more than three years. Pinnacle said it would pay $26.50 per share in cash, representing a premium of 20% over Ameristar Casinos' closing price. The total deal value is $2.8 billion, including debt of $1.9 billion and cash on hand of $116 million. Goldman Sachs & Co advised Pinnacle, while Ameristar was advised by Lazard and Centerview Partners LLC. 

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25 Jul 2014