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Article: Pinnacle Entertainment Makes Announcement Regarding Merger Agreement With Aztar Corporation.
- Article from:
- PR Newswire
- Article date:
- May 19, 2006
CopyrightCOPYRIGHT 2006 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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LAS VEGAS, May 19 /PRNewswire-FirstCall/ -- Pinnacle Entertainment, Inc. today announced that its board of directors unanimously voted not to increase the per-share price under the Company's merger agreement with Aztar Corporation . As announced on May 5, 2006, Pinnacle amended the per-share price under the Company's merger agreement with Aztar to $51.00 per share in cash and Pinnacle stock, subject to adjustment. The fully financed transaction is valued at $2.58 billion, including approximately $1.97 billion in equity on a fully diluted basis and approximately $677 million of indebtedness.
"After careful consideration and due diligence, Pinnacle's ...