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InsideArbitrage Potential Deal Alert: Bally’s (BALY) approached by Standard General for $15 per share

  • March 11, 2024

POTENTIAL DEAL DETAILS

StockBally's CorporationSymbolBALY
Date Announced03/11/2024Source Press Release
TypeUnsolicited BidAcquiring Company/Person Standard General

According to a 13D filing,  Standard General submitted a non-binding letter to Bally’s (BALY) proposing a transaction under which it would acquire all of the outstanding shares of common stock not currently owned by Standard General at a price of $15.00 per share.

Proposal Letter

Bally’s Corp. Investor Relations

Previously, in January 2022, Standard General made a bid to acquire Bally’s at $38.00 per share. However, in May 2022, Bally’s announced that a special committee of its board of directors had terminated Standard General’s proposal.

Update(s):

March 12, 2024: Bally’s Corporation (BALY) announced that it has formed a special committee to evaluate the preliminary, non-binding proposal, dated March 11, 2024, by Standard General.

 

Disclaimer: Our intent with this section of the website is to present potential deals that appear to be in the pipeline. These potential deals are ones where i) the company has indicated that it is "seeking strategic alternatives", ii) there has been an unsolicited bid for a company as mentioned in a press release by the company or iii) news about the deal has been published by a leading news organization like The Wall Street Journal, The New York Times, Bloomberg, Financial Times, The Washington Post, Reuters and The Associated Press. As best as possible we will try to avoid baseless rumors. There is a high probability that many of these potential deals may not materialize and if they do, the terms of the deal may be different from what was initially reported. Please do your own due diligence before buying or selling any securities mentioned on this website. We do not warrant the completeness or accuracy of the content or data provided.