Canada – The Stars Group, a Canadian gaming and online gambling company traded on Nasdaq and the Toronto Stock Exchange, has today announced a special meeting that was due to take place for the proposed merger between the firm and Flutter Entertainment, is to be held in a virtual only format, where shareholders can ‘attend and participate in the Meeting via live audio webcast’.
In addition, the company stated that Glass Lewis & Co and Institutional Shareholder Services, two independent proxy advisory firms, have each recommended that shareholders vote for the proposed all-share combination with Flutter Entertainment, a bookmaking holding company created by the merger of Paddy Power and Betfair.
Details of the Special Meeting state that it will be held on the 24th April 2020 at 10am, instead of the previously agreed Hotel Fairmont Royal York:
‘The Meeting was previously scheduled to be held at the Hotel Fairmont Royal York, located at 100 Front Street West, Toronto, Ontario, Canada in the Confederation 3 room, as well as via a live audio webcast online.
Out of an abundance of caution, to proactively deal with the unprecedented public health impact of a coronavirus disease (COVID-19), and to mitigate risks to the health and safety of The Stars Group’s community, shareholders, employees and other stakeholders, the Meeting will now be held as a completely virtual meeting, to be conducted via live audio webcast. Shareholders will no longer be able to attend the Meeting in person.’
In October 2019, Flutter Entertainment announced an agreement to acquire The Stars Group and Fox will have the option to acquire an 18.5% stake in its US subsidiary FanDuel Group in 2021.