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Tuesday, July 7, 2015

Gaming and Leisure raises bid for Pinnacle's real estate, (NASDAQ: GLPI), (NYSE: TRI), (TSE: TRI.TO)

Gaming and Leisure Properties Inc , which leases real estate to casino operators, raised its hostile bid for Pinnacle Entertainment Inc's real estate assets, valuing them at $5 billion, including debt. GLPI's latest offer increases the total value of the deal by about $1 billion from $4.1 billion earlier, the company said.GLPI has maintained that its purchase of the real estate will speed up Pinnacle's plan to split its real estate and operating assets.Tuesday's offer values the whole of Pinnacle at $47.50 per share, up from $36 earlier. At $47.50, the company is worth about $2.96 billion, according to Thomson Reuters calculations.

Gaming and Leisure Properties, Inc. (GLPI) is a self-administered and self-managed real estate investment trust (REIT). Shares of GLPI fell by 3.87% or $-1.42/share to $35.25. In the past year, the shares have traded as low as $27.66 and as high as $38.30. On average, 544025 shares of GLPI exchange hands on a given day and today's volume is recorded at 653685.

Thomson Reuters Corporation is a provider of intelligent information for businesses and professionals. Shares of TRI fell by 1.1% or $-0.42/share to $37.71. In the past year, the shares have traded as low as $34.88 and as high as $42.64. On average, 798281 shares of TRI exchange hands on a given day and today's volume is recorded at 239725.

Thomson Reuters Corporation is a provider of intelligent information for businesses and professionals. Shares of TRI fell by 0.23% or $-0.11/share to $48.13. In the past year, the shares have traded as low as $38.86 and as high as $53.00. On average, 737439 shares of TRI.TO exchange hands on a given day and today's volume is recorded at 254582.



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