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Subsequent Events (Tables)
9 Months Ended
Sep. 30, 2018
Subsequent Events  
Summary of purchase consideration

 

 

 

 

 

October 15 ,2018

 

 

(in thousands)

Pinnacle diluted shares outstanding

 

62,613

Share exchange ratio

 

0.42

Shares of Penn common stock issued to former Pinnacle shareholders

 

26,297

Price per share of Penn common stock

$

28.51

Fair value of Penn common stock issued to former Pinnacle shareholders

$

749,740

Cash paid to former Pinnacle shareholders at $20 per share

 

1,252,259

Cash paid by Penn to retire Pinnacle debt, inclusive of accrued interest

 

814,273

Purchase price

$

2,816,272