Supreme Court of British Columbia approves Great Canadian Gaming merger
The Supreme Court of British Columbia has greenlighted a deal under which a fund affiliated with Apollo Global Management will acquire Great Canadian Gaming.
The casino operator announced last week that the court signed off on the investment fund’s $45 per share takeover offer.
Apollo has previously said it expects its takeover of Great Canadian to help grow the business, since the privately held company will have more long-term financial flexibility, News 1130 reports.
Shareholders voted in favor of the deal on Dec. 23 after the investment fund sweetened its earlier offer by more than 15 percent.
Great Canadian operates 26 gaming, entertainment, and hospitality facilities in Ontario, British Columbia, New Brunswick, and Nova Scotia.
The gaming company says it will be delisted from the Toronto Stock Exchange after the deal is finalized in the second quarter of 2021, as long as regulatory and closing conditions come through.
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