NEW YORK, Dec. 18, 2017 /PRNewswire/ -- Tripp Levy PLLC, a leading national securities and shareholder rights law firm, announces that it is investigating the potential sale of Pinnacle Entertainment Inc. (NASDAQ: PNK) ("Pinnacle" or the "Company") on behalf of its shareholders. Pinnacle announced that it has entered into a definitive agreement to be acquired by Penn National Gaming, Inc. in a cash and stock deal valued at approximately $2.8 billion. Penn National will acquire Pinnacle for $20 in cash and 0.42 shares of Penn National common stock for each Pinnacle share, which implies a total purchase price of $32.47 per share.
Our investigation has determined that the offer price of only $32.47 per share, unfairly under-values the true going forward inherent value of Pinnacle and that shareholders may not be receiving the maximum value for their shares. The investigation further seeks to determine whether Pinnacle senior management is entering into this deal for their own self-interests to the detriment of the Company's shareholders.
If you are a shareholder of Pinnacle and would like additional information as to how the proposed acquisition may affect your rights as a shareholder, and how you may be eligible to obtain a higher price for your shares at no cost, please contact us at:
Tripp Levy PLLC represents individual and institutional shareholders in mergers and acquisitions transactions and has assisted in the recovery of billions of dollars for shareholders in securities actions around the globe.
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