Macquarie Downgrades Isle of Capri Casinos (ISLE) to Neutral
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Eldorado Resorts (ERI) to Acquire Isle of Capri Casinos (ISLE) in $1.7B Deal
September 19, 2016 6:31 AM EDTEldorado Resorts, Inc. (Nasdaq: ERI) and Isle of Capri Casinos, Inc. (Nasdaq: ISLE) announced that they have entered into a definitive merger agreement whereby Eldorado will acquire all of the outstanding shares of Isle of Capri for $23.00 in cash or 1.638 shares of Eldorado common stock, at the election of each Isle of Capri shareholder, reflecting total consideration of approximately $1.7 billion, inclusive of $929 million of long-term debt of Isle of Capri and its subsidiaries. The exchange ratio for stock consideration to be issued in the merger is fixed and was... More
