Board will review GLPI's proposal and respond promptly
Pinnacle Entertainment confirms receipt of revised proposal from Gaming and Leisure Properties to acquire its real estate assets
Pinnacle Entertainment, Inc. confirmed that its Board of Directors has received a letter from Gaming and Leisure Properties, Inc. ("GLPI") regarding a revised proposal to acquire Pinnacle's real estate assets.
2015-07-08
Reading time 27 seg
Pinnacle Entertainment, Inc. confirmed that its Board of Directors has received a letter from Gaming and Leisure Properties, Inc. ("GLPI") regarding a revised proposal to acquire Pinnacle's real estate assets.
The Pinnacle Board of Directors and management team are focused on creating shareholder value, and to that end have engaged in ongoing negotiations with GLPI in order to provide appropriate value to Pinnacle shareholders, while at the same time working through Pinnacle's REIT separation plan. Pinnacle's Board will review GLPI's revised proposal and respond promptly.
Skadden, Arps, Slate, Meagher & Flom LLP and Gibson, Dunn & Crutcher LLP are acting as Pinnacle's legal advisors, and Goldman, Sachs & Co. is serving as its financial advisor.
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