Bally’s Corporation shares gained almost 30 per cent on Monday after the company revealed a takeover offer by Standard General.
Standard General is Bally’s largest shareholder with a 23 per cent stake in the company and its managing partner, Soo Kim, serves as chairman of Bally’s.
The New York-based hedge fund has proposed to pay $15.00 per share to acquire the remaining outstanding shares in Bally’s, a premium of 41 per cent over the company’s closing share [...]
