Apollo Global Raises Takeover Bid for Great Canadian

Sat, Dec 26, 2020

Apollo Global Management Inc. has raised its bid to takeover Great Canadian Gaming Corp. The new bid of $45 a share is acceptable to shareholders who had balked at the old bid of $39 per share.

Apollo Global Raises Takeover Bid for Great Canadian

Apollo Global Management Inc. has upped the ante on its takeover bid of Great Canadian, a British Columbia company that owns 26 casinos in four Canadian provinces. It is now offering $45 a share, up from $39.

The raised bid has won support of Great Canadian’s shareholders. Shares in the company closed at $37.24 December 18.

The original takeover bid was opposed by some of Great Canadian’s largest shareholders, but that opposition has faded with the new offer. Shareholders representing about half of the voting power have agreed to vote for the takeover.

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