Apollo’s Bid for Casino Operator Rejected by Major Shareholder
- Offer reflects only fraction of potential value, Burgundy says
- Burgundy is no. 3 holder of casino operator: Bloomberg data
Photographer: Joe Raedle/Getty Images
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Apollo Global Management Inc.’s $2.5 billion takeover bid for Great Canadian Gaming Corp. isn’t rich enough for one of the casino operator’s largest shareholders.
Toronto-based Burgundy Asset Management Ltd. plans to hold on to its shares in Great Canadian and won’t vote for the deal, according to a letter seen by Bloomberg.