An investment firm is looking to acquire Bally’s Corporation. Their proposal is $38 per share, representing an expenditure exceeding $2 billion for complete ownership. This firm, Standard General, currently holds the largest stake in Bally’s, and its leader, Soohyung Kim, also serves as Bally’s chairman. Their familiarity with the company seems to breed confidence in a swift resolution. Bally’s is forming a dedicated group to evaluate the bid and explore alternatives, though there’s no certainty of any outcome.
The acquisition will not move forward by Standard General without the Special Committee’s approval.
He underscored their steadfast dedication to the company, irrespective of the result. Should the Special Committee decline or the shareholders reject the proposal, Standard General envisions a continued association with the company as a longstanding investor.
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