7moon25On , Barry & Co. Ltd. has signed a strategic partnership with Standard General LLP (Standard General L.P.) signed a definitive merger agreement.
Standard General L.P.There have been several attempts to acquire the company in the past, with the first bid being made in2022Annual per share38USD per share, and earlier this year15US dollar bid.
The lower bid was rejected by Bally's investors.K&F Growth CapitalCriticism, they accusedSoo KimandStandard General L.P.attempted to "acquire Bally's company at a price significantly below its fair value."
The agreed price per share18.25US dollar,3moon8The volume-weighted average price of the day is higher than71%。3moon8Daily share price15The last trading day for the initial cash offer of USD.
Bally will work withStandard General L.P.Majorly owned regional casino operatorsThe Queen Casino & Entertainment（QC&E)merge.
CEO of BallyRobeson Reeves"Through this merger, we will be adding four complementary properties to our existing15This will add additional geographic and market diversity to our portfolio.”
“We look forward to putting our vision into action and working withStandard General L.P.The team worked closely together to realize this vision.”
The transaction values Bally's enterprise value at approximately46One hundred million U.S. dollars.
In addition,1934Under the securities laws of 1997, the combined company will remain a publicly traded registered corporation, meaning that Bally shareholders can retain their stock at the option of the combined company.
Managing Partner of Standard GeneralSoo Kimexpress:"QC&EThe addition of assets further enhances the company’s development capabilities.”
“We look forward to working with the board and the company’s senior management team to continue executing their business plan.”
