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.
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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%.