Deals
Apollo Casino Deal Is Approved After Bid Lifted to $1.9 Billion
- Shareholders vote 79% in favor; large institutions back offer
- Company expects 2Q closing if regulators sign off on deal
This article is for subscribers only.
Apollo Global Management Inc. won shareholder approval for its $1.9 billion takeover of Great Canadian Gaming Corp., sealing a deal that had faced stiff opposition until the private equity firm increased its bid by 15%.
Holders of 79% of the shares voted at a special meeting were in favor of the transaction, executives said on a webcast. That cleared the two-thirds hurdle needed for the deal to take effect. The acquisition is expected to close in the second quarter, but still needs regulatory approval.