other
confidence high
sentiment neutral
materiality 0.50
Bally's opens new rollover election period for stockholders to retain shares in lieu of $18.25 cash merger consideration
Bally's Corp
- New election period from Dec 11, 2024 to Jan 17, 2025 for stockholders to elect to retain shares instead of receiving $18.25 per share cash.
- As of Nov 19, 2024, holders of ~17.5M shares (including 8.85M from Standard General affiliates) had submitted rollover elections and received new CUSIP.
- Merger closing expected in Q1 2025, subject to regulatory approvals and other customary conditions.
- Special Committee and Board make no recommendation on whether stockholders should elect rollover.
- All previously submitted rollover elections are irrevocable; new elections are also irrevocable once accepted.