Deals
Apollo Considers Higher Offer for Canadian Casino Owner
- Great Canadian Gaming rises in early trading in Toronto
- Some shareholders say proposal undervalues company’s business
This article is for subscribers only.
Apollo Global Management Inc. is mulling an increase to its $2.5 billion takeover bid for Great Canadian Gaming Corp. but may walk away from the deal if it can’t win approval at an upcoming shareholder meeting, according to people familiar with the matter.
The private equity firm has been contemplating its strategy because the C$39-a-share offer has run into opposition from some of Great Canadian’s largest shareholders. At the same time, Apollo is wary of overpaying because of the risks the pandemic poses to the gaming industry, said the people, who asked not to be identified discussing private negotiations.