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0 Comments | Philadelphia Inquirer, The, April, 2006

IN THE REGION

Columbia Sussex 4th, and highest, bidder for Aztar

The bidding for Aztar Corp. intensified as Columbia Sussex Corp. offered $1.68 billion for the owner of the Tropicana casinos in Atlantic City and Las Vegas, topping three rival offers. Columbia made an unsolicited $47-a-share bid, Phoenix-based Aztar said. Closely held Columbia owns nine casinos in Nevada, Louisiana and Mississippi, including the Westin Casuarina in Las Vegas and two in Lake Tahoe. It also owns 83 hotels. Besides Columbia, Aztar's suitors are Pinnacle Entertainment Inc., Colony Capital L.L.C. and Ameristar Casinos Inc. Pinnacle started the bidding battle March 13, when it agreed to buy Aztar for $38 a share, or $1.45 billion. Shares of Aztar rose $1.55, or 3.5 percent, to close...

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