Hedge fund Standard General offers to buy out Bally's shareholders at $15/share, valuing the company at $648M.
Hedge fund Standard General, Bally's largest shareholder with a 23% stake, has submitted an offer to buy out the rest of Bally's shareholders at $15 per share, valuing the company at approximately $648 million. The proposed transaction, a 41% premium to Bally's current share price, is subject to the approval of Bally's Board of Directors. Bally's stock price surged nearly 30% in response to the news.
March 11, 2024
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