TITLE

Station Casinos Rejects Buy Offer, Gets Forbearance

AUTHOR(S)
Sheahan, Matthew
PUB. DATE
March 2009
SOURCE
High Yield Report;3/9/2009, Vol. 20 Issue 10, p14
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
The article reports on the rejection of the acquisition bid of Boyd Gaming of 950 million U.S. dollars for Station Casinos in March 2009. The reasons why Station rejected the bid are listed. Additionally, Station has reached a forbearance deal with bondholders for an extension of debt payments until April 15. Also noted is the debt restructuring plans of Station through a pre-packaged bankruptcy.
ACCESSION #
45124648

 

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