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LAS VEGAS (AP) - Shares in casino operator Aztar Corp. jumped nearly 9 percent Thursday amid reports that real estate investment fund Colony Capital LLC had offered $41 per share for the company, trumping a rival bid.
Phoenix-based Aztar owns the Tropicana hotel-casinos in Las Vegas and Atlantic City, N.J., along with casinos in Missouri and Indiana.
Colony extended the higher offer on Thursday, a person familiar with the matter told The Associated Press. The person spoke on condition of anonymity because of the sensitive nature of the talks.
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