Dallas Strip Clubs: Rick’s Cabaret Acquires VCG Holding in All-Stock Deal (RICK,VCGH)
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Rick’s Cabaret Acquires VCG Holding in All-Stock Deal (RICK,VCGH) – 2/16/2010 4:46:40 PM
By Chip Brian, SmarTrend Analytics Team
2/16/2010-In a deal that creates the largest publicly traded gentlemen’s club operator, Rick’s Cabaret (NASDAQ:RICK) announced it has entered into a definitive agreement to acquire VCG Holding Corp. (NASDAQ:VCGH) in an all-stock deal that values VCG shares between $2.20 and $3.30 per share.
Terms of the transaction, dictate the following, “VCG Holding’s shareholders will receive shares of Rick’s common stock based on certain exchange ratios valuing each share of VCG Holding’s common stock between $2.20 and $3.80 per share, determined based on the weighted average closing price of Rick’s common stock as traded on the Nasdaq Global Market for the 20 consecutive trading days ending on the second trading day prior to the closing of the Merger.”