Core Viewpoint - The Ademi Firm is investigating Golden (NASDAQ: GDEN) for potential breaches of fiduciary duty and other legal violations related to its transaction with Blake L. Sartini and affiliates [1]. Group 1: Transaction Details - Golden shareholders will receive 0.902 shares of VICI Properties Inc. common stock and $2.75 in cash for each Golden share held [2]. - The transaction includes the sale of Golden's operating assets to Sartini and seven casino real estate assets to VICI in a sale-leaseback arrangement [2]. - Blake Sartini and affiliated trusts, owning approximately 25% of Golden's voting shares, have signed a voting agreement in support of the deal [2]. Group 2: Governance Concerns - Golden insiders are set to receive substantial benefits as part of change of control arrangements [3]. - The transaction agreement imposes significant penalties on Golden for accepting competing bids, which may limit the board's ability to act in the best interest of all shareholders [3]. - The investigation focuses on whether the Golden board of directors is fulfilling their fiduciary duties to all shareholders [3].
Shareholder Alert: The Ademi Firm investigates whether Golden Entertainment Inc. is obtaining a Fair Price for its Public Shareholders