(NASDAQ:PNK) (“Pinnacle”) announced today that they have entered into a definitive agreement under which Penn National will acquire Pinnacle in a cash and stock transaction valued at approximately $2.8 billion. (NASDAQ:PENN) (“Penn National”) and Pinnacle Entertainment, Inc. 18, 2017 (GLOBE NEWSWIRE) - Penn National Gaming, Inc. Penn National and Pinnacle to Host Joint Conference Call and Webcast at 8:00 a.m. Post-Synergy Acquisition Multiple of 6.6x LTM EBITDA Immediately Accretive to Free Cash Flow Per Share Expected to Generate $100 Million in Annual Run-Rate Cost Synergiesĭefinitive Agreements with Gaming and Leisure Properties on Master Lease Amendments and Sale- Leaseback Transactions and with Boyd Gaming on Planned Divestitures Provide Clear Path to Completion ![]() ![]() ![]() Pinnacle Shareholders to Receive $20.00 Per Share in Cash and 0.42 Shares of Penn National Common Stock for Each Pinnacle Share in Transaction Valued at Approximately $2.8 BillionĮnhances Penn National’s Position as North America’s Leading Regional Gaming Operator and Further Diversifies Its Best-in-Class Portfolio of Gaming Assets
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