Station Casinos Buyout

Station Casinos (STN)
Fertitta Colony Partners(FCP)
$8.8B Buyout

Summary

$90 per Station Casinos share; $8.8b total

STNstock chart

Initial proposal 12.04.06

Press release
Form 8-K
$82 per Station Casinos share; $4.7b total

Increased offer accepted 2.26.07

Developments

Shareholders amended consolidated class action complaint 6.08.07

Shareholders feel they have been offered inadequate cash in the "going private" transaction
Fertitta Group "unfairly favored"
Form 8-K

Stockholders approve merger 8.14.07
Gaming commission approves acquisition 10.18.07

Closed 10.18.07

Advisors

Financial

Special Committee: Bear Stearns
FCP : Deutche Bank Securities

Legal

Special Committee : Skadden Arps / Kummer Kaempfero
FCP: Milbank Tweed / Brownstein Hyatt / Willkie Farr

Merger Agreement

General

EDGAR filing
Hyperlinked version
Detailed hyperlinked index follows

Article I Definitions

1.1 Definitions
1.2 Terms Generally

Article II The Merger

2.1 The Merger
2.2 Conversion of Securities
2.3 Payment of Cash for Merger Shares and Company
Options
2.4 Treatment of Company Options

Article III The Surviving Corporation

3.1 Articles of Incorporation
3.2 Bylaws
3.3 Directors and Officers

Article IV Company Reps

4.1 Corporate Existence and Power
4.2 Corporate Authorization
4.3 Governmental Authorization
4.4 Non-contravention
4.5 Capitalization
4.6 Reports and Financial Statements
4.7 Undisclosed Liabilities
4.8 Disclosure Documents
4.9 Absence of Certain Changes or Events
4.10 Finders Fees
4.11 Opinion of Financial Advisor
4.12 Anti-takeover Provisions
4.13 Compliance with Laws

Article V Parent and Merger Sub Reps

5.1 Corporate Existence and Power
5.2 Corporate Authorization
5.3 Governmental Authorization
5.4 Non-contravention
5.5 Disclosure Documents
5.6 Finders Fees
5.7 Financing
5.8 Equity Rollover Commitments; Management Agreements
5.9 Parent and Merger Sub
5.10 Ownership of Shares
5.11 Interest in Competitors
5.12 No Other Representations and Warranties
5.13 Guarantee
5.14 Solvency
5.15 Disclosure

Article VI Conduct of Business Pending the Merger

6.1 The Company and Subsidiaries
6.2 Parent and Merger Sub
6.3 No Control of Other Partys Business

Article VII Additional Agreements

7.1 Stockholder Meeting; Proxy Material
7.2 Reasonable Best Efforts
7.3 Access to Information
7.4 Solicitation
7.5 Director and Officer Liability
7.6 Takeover Statutes
7.7 Public Announcements
7.8 Employee Matters
7.9 Financing
7.10 Debt Tender Offers
7.11 Notices of Certain Events
7.12 Confidentiality Agreements
7.13 Vesting of Company Equity Awards
7.14 Rule 16b-3

Article VIII Conditions to the Merger

8.1 Each Party
8.2 Parent and Merger Sub
8.3 The Company

Article IX Termination

9.1 Termination
9.2 Termination Fee
9.3 Effect of Termination

Article X Miscellaneous

10.1 Notices
10.2 Survival of Representations and Warranties
10.3 Expenses
10.4 Amendment
10.5 Waiver
10.6 Successors and Assigns
10.7 Governing Law
10.8 Counterparts; Effectiveness; Third Party Beneficiaries
10.9 Severability
10.10 Entire Agreement
10.11 Jurisdiction
10.12 Authorship
10.13 Remedies

SEC Filings

Schedule 13D Amendment

5.07.07

Amendment #1 6.07.07

Proxy Solicitation / Schedule 13E-3 Filings

Shareholder meeting 8.13.07

8.13.07

Proxy statement filings

Definitive 7.09.07
Preliminary - Amendment #2 6.26.07

Preliminary 5.07.07

Schedule 13E-3 filings

Amendment #3 7.09.07

Amendment #2 6.26.07
Amendment #1 6.08.07

Schedule 13e-3 5.07.07

Deal Protection

No shop covenant

Merger agreement §7.4

Break-up fee

Merger agreement §9.2

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