Station Casinos stockholders OK merger with investor group led by CEO

By Lisa Kerner

Charlotte, N.C., Aug. 14 - Station Casinos, Inc. shareholders approved the merger and merger agreement between the company and Fertitta Colony Partners LLC at a special meeting on Monday.

Preliminary results show that about 79% of the Station shares outstanding voted in favor of the merger.

Under the Feb. 25 agreement, Station shareholders will receive $90 per share in cash.

Station expects the transaction, valued at some $8.8 billion including debt, to be completed in late September or in the fourth quarter, according to a company news release.

As previously reported, Station chairman and chief executive officer Frank J. Fertitta III and vice chairman and president Lorenzo J. Fertitta formed Fertitta Colony, which includes Colony Capital Acquisitions, LLC, an affiliate of Colony Capital, LLC.

Colony Capital is a Los Angeles private investment firm specializing in real estate-related assets and securities.

Station Casinos is a Las Vegas gaming and entertainment provider.

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