YouBet.com To Be Acquired By Churchill Downs
http://www.wassonline.com/online-gambling-news/articles/142/1/YouBetcom-To-Be-Acquired-By-Churchill-Downs/Page1.html
Super Admin
By Super Admin
Published on 11/17/2009
Horse Racing betting operator YouBet.com has struck a deal with Churchill Downs to be absorbed by the latter.
Horse Racing betting operator YouBet.com has struck a deal with Churchill Downs to be absorbed by the latter.
YouBet.com shareholders will receive a fixed ratio of .0598 shares of Churchill Downs stock with an extra 97 cents in cash per every YouBet.com Share. All in all, YouBet.com Shareholders will own around 16% of Churchill Downs.
YouBet.com customers will continue receiving all services they had until now.
Both companies are sure the move will improve upon what both had to offer beforehand, improving in each of the companies specialty. Both companies have expressed belief that the new merged company could grow faster with combined forces.
YouBet.com shareholders will receive a fixed ratio of .0598 shares of Churchill Downs stock with an extra 97 cents in cash per every YouBet.com Share. All in all, YouBet.com Shareholders will own around 16% of Churchill Downs.
YouBet.com customers will continue receiving all services they had until now.
Both companies are sure the move will improve upon what both had to offer beforehand, improving in each of the companies specialty. Both companies have expressed belief that the new merged company could grow faster with combined forces.