Ameristar (ASCA) / Pinnacle (PNK) Deal Could Flush Out Competitive Bids

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Go back to Ameristar (ASCA) / Pinnacle (PNK) Deal Could Flush Out Competitive Bids

Pinnacle Entertainment (PNK) to Acquire Ameristar Casinos (ASCA) for $26.50/Share

December 21, 2012 7:02 AM EST

Pinnacle Entertainment, Inc. (NYSE: PNK) and Ameristar Casinos, Inc. (Nasdaq: ASCA) announced today that the companies have entered into a definitive agreement under which Pinnacle will acquire all of the outstanding common shares of Ameristar for $26.50 per share in cash, for a total enterprise value of $2.8 billion, including debt of $1.9 billion and cash on hand of $116 million as... More