Chuck E. Cheese abandons plans to go public after termination of business agreement

Chuck E. Cheese

CEC Entertainment has said that its previously announced business combination agreement with Leo Holdings Corporation has been terminated with immediate effect.

The deal, which was originally announced in April, would have seen the firm, which runs Chuck E. Cheese and Peter Piper Pizza, go public on the New York Stock Exchange.

As yet, no reason has been provided for the termination of the deal, which had initially been expected to be completed in the second quarter.

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As a result of the termination of the agreement, the extraordinary general meeting of Leo’s shareholders scheduled to be held at 9:00 a.m. Eastern Time on July 30, 2019 was cancelled

CEC Entertainment is a nationally recognized leader in family dining and entertainment, operating both Chuck E. Cheese and Peter Piper Pizza venues, and is owned by Apollo Global Management.

Leo Holdings, Corp. is a blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses.

Tags : businesschuck e. cheesemerger
Patrick Cremona

The author Patrick Cremona

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