Penn National Gaming shareholders meeting set

Shareholders of Penn National Gaming Inc. will meet Dec. 12 to vote on a proposal to approve the company’s agreement to be acquired.

Shareholders of Penn National Gaming Inc. will meet Dec. 12 to vote on a proposal to approve the company’s agreement to be acquired.

Wyomissing-based Penn National agreed in June to be acquired by affiliates of Fortress Investment Group and Centerbridge Partners, both of New York.

The shareholder meeting will bed held at 10 a.m. at the offices of Ballard Spahr Andrews & Ingersoll in Philadelphia. Shareholders of record at the close of business Nov. 7 will be permitted to vote.

If the deal is approved, shareholders will receive $67 per share. If the deal is not complete by June 15, the per-share purchase price will be increased by 1.49 cents a day.

Penn National operates Penn National Race Course in Dauphin County.

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