Hercules Topco LLC, which is 49 per cent owned by Genting Malaysia Bhd via subsidiary Genting Ltd, has inked a merger agreement with Empire Resorts Inc, which entails buying out Empire’s minority shareholders at US$9.74 per share. — Reuters pic
In a filing with Bursa Malaysia today, GenM said the qualified shareholders did not include those who had elected to dissent from the proposed merger and were seeking appraisal rights as well as shareholders of cancelled shares. On Sunday, when the merger agreement was signed, GenUSA and Kien Huat Realty III Ltd received 49 per cent and 51 per cent membership interest in Hercules Topco, respectively.
As part of the proposed merger and in accordance with the merger agreement, qualified shareholders of Empire common stock will be entitled to receive US$9.74 in cash from Hercules Topco for each share held in Empire.
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