Shares of Isle of Capri Casinos ISLE gained as much as 14.86 percent following Deutsche Bank analyst Carlo Santarelli's comments on Tuesday's M&A talks.
Santarelli commented that Gaming and Leisure Properties GLPI could pay $15.80 per share for Isle of Capri, a 78 percent premium to Tuesday's close of $8.88.
Deutsche Bank believes a straight sale of the company is the most likely scenario. The analyst added that a sales leaseback deal is another possibility.
Santarelli has a Buy rating on Isle of Capri and $43.00 price target.
Isle of Capri shares are up 11.3 percent at last check.
Gaming and Leisure Properties stock closed at $34.90 on Tuesday. The stock is up 3.09 percent at $35.98.
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