Business InsiderCasino operator Penn National agrees to buy Pinnacle for $2.8 billionBusiness InsiderThe deal will pay Pinnacle shareholders $20.00 in cash and 0.42 shares of Penn National common stock for each Pinnacle share. The deal price represents a 48.5% premium to Pinnacle's share close on October 4, the day before the first report of talks ...Penn National to buy Pinnacle Entertainment in $2.8 billion deal.