BC Supreme Court approves Penn National and theScore deal
| By Nosa Omoigui
The Supreme Court of British Colombia has issued a final order approving the deal between Penn National Gaming and theScore, which will see the Penn acquire theScore.
The agreement is expected to be finalized by 19 October 2021 subject to closing conditions being met.
Penn first agreed a deal for theScore back in August – in a $2.0bn cash-and-stock deal which would see Penn migrate its betting products to an upcoming theScore platform.
Penn will pay $17.00 in cash and 0.2398 shares ($17.00’s worth) of its stock for every theScore share, for a total consideration of $34.00 per share.
theScore shareholders will hold approximately 7% of the new business, with current Penn shareholders holding the remaining 93%.