Shares of Golden Nugget Online Gaming, Inc. (GNOG) are surging more than 48% Monday morning after the company agreed to be bought by DraftKings Inc. (DKNG) in an all-stock transaction valued about $1.56 billion.
As per the deal, Golden Nugget stockholders will receive 0.365 New DraftKings' Class A Common Stock for each Golden Nugget share hey own.
The transaction is expected to close in the first quarter of 2022.
GNOG is currently trading at $18.17.
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