The BC Supreme court has approved an acquisition of Great Canadian Gaming Corp. (TSX:GC) by Raptor Acquisition Corp., an affiliate of Apollo Global Management, Inc. (NYSE:APO).
Raptor will purchase all issued and outstanding common shares for $45 per share.
Great Canadian shareholders had voted Dec. 23 to accept the purchase offer. On that date, Great Canadian shares were trading at $43.47 per share.
Great Canadian said it expects the arrangement will be completed in 2021’s second quarter. At that time, the company said in a news release, it will be delisted from the TSX.
Great Canadian currently operates casinos, horse racing tracks and other gaming facilities in B.C., Ontario and Atlantic Canada.
As of press time, Great Canadian Gaming’s shares were trading at $43.515 per share.
