Bally will buy back Trump’s 9.9% interest.
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Bally Manufacturing Corp. announced that it has agreed to buy back Donald J. Trump’s stake in Bally at a premium, apparently ending a takeover battle for the Chicago-based casino and hotel company. Bally paid Trump $68.6 million on Saturday and he will get $15.1 million more in a year, according to sources close to the deal quoted in the New York Times. The New York developer, who had been trying to take control of Bally, will make an estimated $31.7-million profit on the deal, the newspaper said.
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