3 Firms Steer TPG Blank Check Co.'s $884M Slot Biz Deal

Law360 (June 13, 2019, 1:53 PM EDT) -- A blank check company backed by TPG Capital said Thursday it will take over slot machine operator Accel Entertainment in a deal valuing the combined entity at $884 million, with Weil Gotshal representing the buyer and Fenwick & West and Much Shelist on the sell side.

TPG Pace said investors will buy $45 million worth of its own shares through a private placement, which, alongside funds currently held in the blank check company's trust account, will be used to pay existing Accel shareholders and cover transaction expenses. The private placement and cash held in trust totals more than $500 million, and...

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