Business
Great Canadian Gaming Corporation and Funds Managed by Affiliates of Apollo Global Management, Inc. Agree to Increased Purchase Price of C$45 per Share in Cash
Great Canadian Gaming Corporation and Funds Managed by Affiliates of Apollo Global Manage...
About this update from Goldcana Resources Inc.
[{"type":"text","content":"\n \n \n \n Great Canadian Gaming Corporation and Funds Managed by Affiliates of Apollo Global Management, Inc. Agree to Increased Purchase Price of C$45 per Share in Cash\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n Increase of Approximately 15.4% from Original Purchase Price\n \n \n \n \n \n \n Shareholders Holding approximately 50% of Great Canadian's Common Shares Have Committed to Vote in Favour of the Transaction\n \n \n \n \n \n \n BloombergSen, CI Global Asset Management and Burgundy Asset Management among Supporting Shareholders\n \n \n \n \n \n \n Special Meeting of Securityholders to be Held as Scheduled on\n \n December 23, 2020\n \n \n and Voting Deadline Extended\n \n \n \n \n \n TORONTO\n \n ,\n \n Dec. 21, 2020\n \n /CNW/ - Great Canadian Gaming Corporation (TSX: GC) (\"Great Canadian\" or the \"Company\") today announced that it has entered into an amended arrangement agreement (the \"Amended Agreement\") to be acquired by funds (the \"Apollo Funds\") managed by affiliates of Apollo Global Management, Inc. (NYSE: APO) (together with its consolidated subsidiaries, \"Apollo\") under which the Apollo Funds will acquire all the outstanding Great Canadian common shares for\n \n C$45\n \n per share in cash (the \"Transaction\").  The amended purchase price represents an approximately 15.4% increase from the original purchase price of\n \n C$39\n \n per share.\n \n \n Shareholders holding approximately 50% of Great Canadian's outstanding common shares (the \"Supporting Shareholders\") have entered into voting support agreements pursuant to which they have committed to vote in favour of the Transaction at a purchase price of\n \n C$45\n \n per share. Supporting Shareholders include funds managed by BloombergSen, CI Global Asset Management, Burgundy Asset Management Ltd., Madison Avenue Partners, LP, HughesLittle Investment Management Ltd., Newtyn Management LLC, Sand Grove Capital Management LLP, Hawk Ridge Capital Management and Alpine Associates Management Inc.\n \n \n The...