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Penn National Gaming Inc. (PENN) has been in merger discussions with rival casino operator Pinnacle Entertainment Inc., (PNK) according to people familiar with the matter.
Update(s):
November 30, 2017: Pinnacle Entertainment, Inc.(PNK) today confirmed that it is engaged in discussions with Penn National Gaming, Inc.(PENN) regarding a potential business combination, whereby Penn National would acquire the Company in a cash and stock transaction.
December 18. 2017: Penn National Gaming, Inc. (PENN) and Pinnacle Entertainment, Inc. (PNK) announced today that they have entered into a definitive agreement under which Penn National will acquire Pinnacle in a cash and stock transaction valued at approximately $2.8 billion.