"Louisville, Ky., racetrack operator Churchill Downs Inc. announced an agreement Thursday, Nov. 12, to acquire online betting site Youbet.com Inc. in a stock swap valued at about $127 million.
The deal completes an auction process for Youbet that began in May. Both companies' boards have approved the transaction, but Youbet shareholders must still clear it. Closing is expected by the second quarter of 2010."
This article appeared in its entirety in the November 12, 2009 edition of The Deal Pipeline