I don't understand this situation and am looking to educate myself on how this works.
So Penn bought Barstool for $500M. Then they sell Barstool for just $1? How does this make sense? Was there no better offer than $1?
Is this a common situation? Or has something like this ever happened before?
Was there funny business going on? Was it just a terrible deal by Penn? Or is it more complicated than that?
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