NEW YORK >> Pinnacle Entertainment is being snapped up by Penn National in a deal valued at $2.8 billion, and Boyd Gaming is taking over its properties. Big players in the gaming industry are looking for ways to diversify while cutting costs. Penn said Monday that the combined company will have 41 properties in North America, not including those acquired by Boyd.
Hershey buying Amplify in $1.2 billion deal
NEW YORK >> Chocolate maker The Hershey Co. is acquiring Amplify Snack Brands for $1.2 billion as it ventures into the healthy-snack aisle. The boards of both companies have agreed on the deal, in which Hershey will acquire all outstanding shares of Amplify for $12 per share in cash.
Death of CSX CEO raises questions
OMAHA, Neb. >> The weekend death of CSX CEO Hunter Harrison less than a year after he took the railroad’s top job raises questions about the future of his reforms. But CSX officials say the 73-year-old Harrison did enough since taking over in March to change the direction of the Jacksonville, Fla.-based railroad, and executives he trained will carry out the plan.
Toys R Us to close up to 200 stores
WAYNE, N.J. >> Toys R Us Inc. might soon cull some of the less treasured items in its corporate toy box. The chain is considering closing 100 to 200 locations as it grapples with disappointing holiday season sales. No one should find such a move terribly surprising; Toys R Us filed for bankruptcy in September, and it is pretty typical for retailers to consider trimming their store portfolio in that situation. The latest U.S. Toys R Us store count is 879.
ON THE MOVE
Common Cause Hawaii has announced David Miyashiro’s appointment to its board of directors. He is the founding executive director of HawaiiKidsCAN, and is a former Hawaii public school special-education teacher who previously worked with Teach for America.
Damon Key Leong Kupchak Hastert has announced that Na Lan has joined the firm. She is bringing experience and capabilities in the areas of community and condominium association law as well as immigration, business and real property transactions, and dispute resolution for Mandarin-speaking business owners and investors. Prior to joining Damon Key, Lan provided legal services through the Law Office of Na Lan, which focused on family-based, employment and business immigration law.
