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December 5, 2006

Station Casinos gets $4.7B buyout offer

LAS VEGAS (AP) — Private equity bidders extended their shopping spree for casino companies Monday as Station Casinos Inc. said it received a $4.7 billion buyout offer from its founding family and an affiliate of Colony Capital LLC.

The $82-per-share offer for the Las Vegas-based neighborhood casino operator, backed by chief executive Frank J. Fertitta III and president Lorenzo Fertitta, represented an 18.7 percent premium to Friday's closing price.


 
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