Apollo Group in US increases bid for GC from $39 to $45 Guessing that recent covid19 mutation news is getting in the way of a sector rally here with GH.
Great Canadian Gaming and Funds Managed by Affiliates of NYSE's Apollo Agree to Increased Purchase Price of C$45 per Share in Cash 08:15 AM EST, 12/21/2020 (MT Newswires) -- Great Canadian Gaming Corporation (TSX: GC) entered Monday into an amended arrangement agreement to be acquired by funds managed by affiliates of Apollo Global Management, Inc. (NYSE: APO) under which the Apollo Funds will acquire all the outstanding Great Canadian common shares for C$45 per share in cash. The amended purchase price represents an approximately 15.4% increase from the original purchase price of C$39 per share.
This comes after Great Canadian on Friday saying that further to the announcement on December 18, 2020 from the Ontario provincial government that certain businesses in certain regions, such as casinos and race tracks, will be restricted further operationally, Great Canadian Gaming will be suspending gaming operations at Elements Casino Brantford and racing operations at Flamboro Downs as of Sunday, December 20, 2020 at 11:59pm EST.