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Article: Penn National Gaming Closes $1.25 Billion Series B Redeemable Preferred Stock Transaction.
- Article from:
- Business Wire
- Article date:
- October 30, 2008
CopyrightCOPYRIGHT 2008 Business Wire. 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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- Company Has Now Received Entire $1.475 Billion Related to Termination of Merger Agreement -
- Fortress Investment Group Chairman and CEO, Wesley R. Edens, Joins Penn National Gaming Board of Directors -
WYOMISSING, Pa. -- Penn National Gaming, Inc. (Nasdaq: PENN) (the "Company") announced today that it has issued 12,500 shares of its Series B Redeemable Preferred Stock due 2015 for $1.25 billion. The shares were purchased by certain funds managed by affiliates of Fortress Investment Group LLC (NYSE: FIG) ("Fortress") and Centerbridge Partners, L.P. ("Centerbridge"), affiliates of Wachovia and affiliates of Deutsche Bank (collectively "the Purchasers"). ...
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... ... and John Rauen Vice President of Operations Penn National Gaming, Inc. (Nasdaq:PENN) announced today ... joining Peter, Kevin and the rest of the Penn National team." Penn National Gaming owns and operates the Casino Rouge, a riverboat ...
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