Boyd Gaming has made an acquisition approach to Penn Entertainment, according to sources cited by Reuters. The potential deal values Penn Entertainment at more than $9 billion, including debt. Following the news, Penn Entertainment's shares surged by 8% and were halted, while Boyd Gaming's shares fell by 1.66%. Penn Entertainment's shares were up by 5.60% today. The acquisition approach has sparked significant interest and speculation in the market.
Blue Horseshoe loves Anacot Steel ( $PENN 10,000 20/30 Oct call spreads) https://t.co/QnpAkJMa9J
$PENN shares spiking toward highs following report that Boyd Gaming $BYD is interested in acquiring PENN Lol those October call spreads we saw in first hour today had a good hunch..
BREAKING 🚨 Boyd Gaming has made an acquisition approach to Penn Entertainment ▪ $BYD -1.66% today ▪ $PENN +5.60 today What do you think?