Ameristar Casinos Inc. (ASCA), on Thursday said its stockholders approved the acquisition of Ameristar by Pinnacle Entertainment, Inc.(PNK).
Ameristar in a statement added that about 99.8 percent of the shares voted in favor of the agreement and merger plan. Further, the company said the shares represent around 81.6 percent of the total shares outstanding of Ameristar.
Pinnacle had agreed to acquire Ameristar for $26.50 per share, or for a purchase value of $2.8 billion in cash.
The transaction subject to Hart-Scott-Rodino Antitrust Improvements Act, and other customary closing conditions is expected to close during the second or third quarter of 2013.
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