Great Canadian Gaming shareholders approve $1.96bn takeover by Apollo Global Management
Great Canadian Gaming said that its shareholders have approved the sweetened takeover offer of CAD 2.52 billion ($1.96 billion) from Apollo Global Management.
Under the revised offer, Apollo Global Management will acquire all the shares of the Canadian casino operator for CAD 45.00 per share, which has been approved by 79.4% of the latter’s shareholders.
The deal, which was announced last month, is expected to close in Q2 2021, subject to the remaining closing conditions and regulatory approvals.
The original offer for Great Canadian Gaming’s shareholders was CAD 39.00 per share. On 23 December, the offer was raised by nearly 15.4%.
Established in 1982, Great Canadian Gaming operates 25 gaming, entertainment, and hospitality facilities located across Ontario, British Columbia, Nova Scotia, and New Brunswick.