Penn gains amid report of Flutter interest in joining with Boyd for a takeover
Penn Entertainment rose 5% [Friday] amid a report that Flutter is interested in the interactive assets of Penn. Flutter pared some of an earlier gain amid the news.
Flutter may want to partner with Boyd Gaming as the owner of FanDuel is interested in Penn’s interactive assets, according to a report from TheDeal.com on Friday, which cited unidentified sources.
The story comes after a Reuters report last month that Boyd made a takeover approach for Penn. Activist investor Donerail Group in May said PENN could attract double its current trading price in a sale and urged the company to put itself on the market.
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