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PHILADELPHIA (AP) - Racetrack and casino operator Penn National Gaming Inc. said Friday it agreed to be acquired by funds managed by two investment companies for about $6.1 billion in cash.
Penn National shares climbed more than 22 percent in midday trading.
The company, with net revenue of $2.2 billion in 2006, operates 18 gambling facilities stretching from Maine to New Mexico as well as Ontario, Canada.
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