Station Casinos Comes Off Market
Company Becomes A Private Entity
POSTED: 2:46 pm PST November 7,
2007
UPDATED: 4:00 pm PST November 7,
2007
LAS VEGAS -- Neighborhood casino operator Station Casinos Inc. said it is now a private company.Company officials said the agreement to be bought out by members of the founding Fertitta family and an affiliate of Colony Capital LLC for $90 a share has been completed.Shares are to be delisted from the New York Stock exchange at the end of the day. Shareholders of the company approved the $5.4 billion takeover bid in August.
Now, Station is directly owned by affiliates of chief executive Frank Fertitta III, president Lorenzo Fertitta, vice president Blake Sartini and Delise Sartini and affiliates of Colony Capital. Colony will hold a 75 percent interest in the new company.
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