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Stock Market & Financial Investment News

News Breaks
February 7, 2013
09:07 EDTASCA, PNKAmeristar Casinos sees Pinnacle Entertainment merger closing in Q2 or Q3
As previously announced, Ameristar Casinos (ASCA) entered into an agreement and plan of merger with Pinnacle Entertainment (PNK), pursuant to which Pinnacle will acquire all of the outstanding common shares of Ameristar for $26.50 per share in cash. The merger is subject to customary closing conditions, required regulatory approvals and approval by Ameristar's stockholders. The transaction is expected to close in the second or third quarter of 2013. Ameristar and Pinnacle filed the required Hart-Scott-Rodino premerger notification and report forms on Jan. 11. Pinnacle has filed applications for regulatory approvals as required under applicable gaming laws. On Feb. 1, Ameristar filed a preliminary proxy statement with the Securities and Exchange Commission relating to a special meeting of Ameristar's stockholders to consider and approve the merger agreement.
News For ASCA;PNK From The Last 14 Days
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April 21, 2014
12:25 EDTPNKPinnacle Entertainment volatility up, will continue to 'review all strategies'
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11:54 EDTPNKPinnacle Entertainment says will continue to 'review all strategies'
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10:54 EDTPNKPinnacle Entertainment up 7% after Orange Capital recommendations
In a regulatory filing, Orange Capital reported a 4.5% stake in Pinnacle Entertainment. Orange Capital says it has had ongoing discussions with company management to maximize shareholder value including recommended that Pinnacle Entertainment consider spinning off the issuer's owned real estate into a separately traded real estate investment trust, REIT, and distribute it to shareholders via a tax free spin-off, "the PropCo Transaction." On April 16, Orange Capital sent a letter to the CEO of the Pinnacle, which discusses necessary steps to complete the PropCo Transaction; provides an analysis that describes why the reporting persons believe shareholder value will be maximized as a result thereof and states that subject to agreement with the Board and other typical conditions for transactions of the type, Orange Capital is willing to be an anchor investor in the PropCo Transaction.
10:43 EDTPNKOrange Capital urges Pinnacle Entertainment to spin off real estate into REIT
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10:41 EDTPNKOrange Capital reports 4.5% stake in Pinnacle Entertainment
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