February 26, 2007
Station Casinos, Inc. announces agreement to be acquired by Fertitta Colony Partners LLC for $90 per share in cash.
On February 26, Station Casinos, Inc. announced that it has entered into a definitive agreement to be acquired by Fertitta Colony Partners LLC (“FCP”) in a transaction valued at approximately $8.8 billion, including the assumption or repayment of approximately $3.4 billion of debt. FCP is a new company formed by Frank J. Fertitta III, Chairman and CEO of Station, Lorenzo J. Fertitta, Vice Chairman and President of Station, and Colony Capital Acquisitions, LLC, an affiliate of Willkie client Colony Capital, LLC. Under the agreement, FCP will acquire all of Station’s outstanding common stock for $90 per share in cash. With 13 properties and over 10,000 employees, Station is the leading provider of gaming and entertainment to the residents of Las Vegas, Nevada. Colony Capital is a private, international investment firm focusing primarily on real estate-related assets, securities and operating companies. The firm has invested approximately $20 billion in over 8,400 assets through various corporate, portfolio and complex property transactions. The Willkie team advising Colony Capital includes partners Thomas Cerabino, Adam Turteltaub, Robert Bressman, William Hiller and Richard Reinhold; and associates Daniel Backer, Jeremy Crystal , Jeffery Fang, Amanda Granacher, Alycia Green, Thomas Henry, Jordan Messinger, Jeni Pepper, Danielle Sheer and Kelly Sutherland.
