Churchill Downs Incorporated and Youbet.com, Inc. Extend Outside Date for Consummation of Merger
12 5월 2010 - 5:38AM
Business Wire
Churchill Downs Incorporated (“CDI”) (NASDAQ: CHDN) and
Youbet.com, Inc. (NASDAQ: UBET) (“Youbet”) announced today that the
outside date for termination of their merger agreement providing
for the acquisition of Youbet by CDI has been automatically
extended, in accordance with the terms of the merger agreement,
from May 11, 2010 to February 11, 2011, in order to grant the
parties additional time to satisfy the mutual condition to closing,
relating to the expiration or termination of any applicable waiting
period under the Hart-Scott-Rodino Antitrust Improvements Act of
1976, as amended (the “HSR Act”).
On Nov. 11, 2009, CDI and Youbet announced their proposed merger
by which CDI would acquire all of the outstanding shares of Youbet,
in a transaction valued at approximately $126.8 million based on
the Nov. 10, 2009 closing price of CDI common stock. On January 25,
2010, the Antitrust Division of the United States Department of
Justice (“DOJ”) issued to CDI and Youbet formal requests for
additional information and documentary material. These requests had
the effect of extending the HSR Act waiting period until 30 days
after both parties have substantially complied with the requests,
subject to any modifications of the requests to which the DOJ may
agree. No other regulatory approvals are a condition to the
completion of the merger. Although no assurances can be given as to
the timing for the closing of the merger, both companies continue
to expect the merger to close in the second quarter of 2010.
CDI, headquartered in Louisville, Ky., owns and operates four
world renowned Thoroughbred racing facilities: Arlington Park in
Illinois, Calder Casino and Race Course in Florida, Churchill Downs
Race Track in Kentucky and Fair Grounds Race Course & Slots in
Louisiana. CDI operates slot and gaming operations in Louisiana and
Florida. CDI tracks are host to North America’s most prestigious
races, including the Arlington Million, the Kentucky Derby, the
Kentucky Oaks, the Louisiana Derby and the Princess Rooney, along
with hosting the Breeders’ Cup World Championships for a record
seventh time on Nov. 5-6, 2010. CDI also owns off-track betting
facilities, TwinSpires.com and other advance-deposit wagering
channels, television production, telecommunications and racing
service companies such as BRIS and a 50-percent interest in the
national cable and satellite network, HorseRacing TV, which
supports CDI’s network of simulcasting and racing operations. CDI’s
Entertainment Group produces the HullabaLOU Music Festival at
Churchill Downs which premieres on July 23-25, 2010. CDI trades on
the NASDAQ Global Select Market under the symbol CHDN and can be
found at www.ChurchillDownsIncorporated.com.
Youbet.com, Inc. (NASDAQ:
UBET) is a leading domestic online horse racing and horse
betting site, the exclusive provider of live horse racing footage
and racing results to ESPN.com and CBSSports.com and a leading supplier of
totalizator systems to the pari-mutuel industry. Youbet’s
website enables its customers to securely wager on horse races at
over 200 racetracks each year worldwide from the convenience of
their homes or other locations. Through its online platform,
Youbet offers members real-time wagering, co-mingled track pools,
conditional wagering capabilities, high quality live audio/video,
up-to-the-minute track information, mobile wagering, race replay
library, simultaneous X2 Video multi-race viewing capability and
sophisticated ROI-based player analysis tools. In addition,
through its United Tote totalizator systems subsidiary, Youbet
provides hardware and software to its track partners, allowing them
to process pari-mutuel wagers, issue and pay tickets, and calculate
payoff odds. Youbet’s website is: www.youbet.com.
Youbet (NASDAQ:UBET)
과거 데이터 주식 차트
부터 11월(11) 2024 으로 12월(12) 2024
Youbet (NASDAQ:UBET)
과거 데이터 주식 차트
부터 12월(12) 2023 으로 12월(12) 2024
