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MTR GAMING-JACOBS ENTERTAINMENT
MTR Gaming proceeds with Eldorado merger plans despite higher offer from Jacobs Entertainment
Reported by: Associated Press
Tuesday, October 15, 2013 4:52 PM EDT
MTR Gaming Group says it's evaluating an offer from Jacobs Entertainment but is proceeding with its merger with Eldorado Resorts.
MTR said Tuesday its board unanimously supports the merger, and it's impossible to say when it might make any decisions about the Jacobs offer.
MTR said it won't comment further.
In U.S. Securities and Exchange Commission filings, CEO Jeffrey Jacobs said his unsolicited offer of $5.69 per share is worth $15.6 million more than Eldorado Resorts' offer of $5.15 per share.
He also argues that MTR's board wouldn't be selling control of the company and could still appoint the majority of the board of directors.