On Wednesday, Shares of AES Corp (NYSE:AES), lost -2.49% to $12.91.
AES Corp, is offering residential customers the highest incentive ever -$100 total - for buying a high efficiency ENERGY STAR refrigerator and recycling their old refrigerator to save on energy costs.
DP&L is expanding its rebate program through October to reward customers with $50 for the purchase of:
- ENERGY STAR certified refrigerators
- ENERGY STAR certified clothes washers
- Wi-Fi enabled thermostats (counting learning thermostats, such as Nest)
The AES Corporation operates as a diversified power generation and utility company. It owns and/or operates power plants to generate and sell power to customers, such as utilities, industrial users, and other intermediaries.
Finally, Gaming and Leisure Properties Inc (NASDAQ:GLPI),ended its last trade with -1.71% loss, and closed at $35.11.
Gaming and Leisure Properties, sent a letter to the Board of Directors of Pinnacle Entertainment, Inc. (PNK) conveying a significantly raised offer to acquire the real estate assets of Pinnacle (see letter below).
As formerly declared, GLPI has projected that Pinnacle’s operating business would be spun off into a separately traded public company (“OpCo”) and its remaining real estate assets (“PropCo”) would be merged into GLPI. Under GLPI’s revised proposal, Pinnacle shareholders would receive a fixed exchange ratio of 0.85 GLPI common shares per Pinnacle share for PropCo, which is a 54% enhance over the formerly declared exchange ratio of 0.5517 on March 9 and values PropCo at over $31.50 per Pinnacle share based on GLPI’s closing share price yesterday. This implies a PropCo enterprise value of $5.0 billion, or about 13.3x the initial year’s PropCo adjusted EBITDA, while maintaining a lease coverage ratio at OpCo of 1.9x property EBITDAR/lease expense. Pinnacle shareholders would also continue to receive one share of OpCo common stock for each share of Pinnacle they own, which has an assumed value of about $16.00 per Pinnacle share. The total implied value would be about $47.50 per share, which is a 73% premium to Pinnacle’s unaffected stock price on March 9, 2015, and a 27% premium to the current stock price.
PropCo comprises real estate properties counting casino facilities and other assets. Gaming and Leisure Properties, Inc (NasdaqGS:GLPI) operates independently of Penn National Gaming Inc. as of November 01, 2013.
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