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Penn National Gaming Inc. Message Board

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  • jcbrowns jcbrowns Mar 25, 2008 4:18 PM Flag

    3.5M traded and counting

    This thing is going to be bumpy and may well be renegotiated to around $50. Longs term, we are probably better off holding the stock. Clear Channel privatization deal near collapse.

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    • This deal will not be renogiated for a couple of reasons.

      PENN has terms that allows it to sue FIG for specific performance and tie up their assets. Hurt its reputation also.

      Second, a revised deal could allow the bank to back out.

      The only deal breaker is PENN screwing up the business in a material manner before close which would allow an excape.

      Banks are getting sued from walking as of late.

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