Newspaper article St Louis Post-Dispatch (MO)

Business Digest

Newspaper article St Louis Post-Dispatch (MO)

Business Digest

Article excerpt

Isle surges on report * Isle of Capri shares jumped 12 percent Wednesday after a Deutsche Bank analyst speculated the Creve Coeur- based casino operator would be worth nearly $16 a share if Gaming and Leisure Properties Inc. made a bid for the firm. On Monday, financial news service Reuters, citing anonymous sources, reported that Isle was in talks to sell itself to GLP, a Wyomissing, Pa.- based owner of casino real estate properties. Bloomberg News reported Wednesday that Deutsche Bank analyst Carlo Santarelli estimated Isle's value at about $15.80 a share. The analyst also said in his research report that a straight sale was the most likely scenario, though a sales leaseback of Isle's real estate properties is a possibility, Bloomberg reported.

Icahn leaves ARI board * Investor Carl Icahn has resigned from the board of American Railcar Industries Inc., the St. Charles- based maker of railroad cars and tankers, the company said Wednesday. American Railcar said Icahn resigned Tuesday as the board's chairman because he serves on the boards of several companies and wanted to reduce his number of directorships, the company said. Succeeding Icahn as chairman is SungHwan Cho, who has been on American Railcar's board since 2011. Filling Icahn's vacancy on the board is Courtney Mather. He has served as managing director of Icahn Capital LP, through which Icahn manages investment funds. (Tim Bryant)

Investor sues Sigma-Aldrich * Sigma-Aldrich Corp., a St. Louis- based specialty chemical firm, was sued by an investor alleging directors granted excessive stock options to the chief executive officer. The company's board violated a long-term incentive plan that limits annual share awards to 200,000 by giving CEO Rakesh Sachdev 271,480 shares in 2013, according to a lawsuit filed today by Nelson Good in Delaware Chancery Court. While compensation committee members are "delegated the authority under the plan to make and approve equity awards," that discretion is "not unlimited," Good's lawyers said in the complaint. At Wednesday's price, the total value is almost $28 million, with the extra shares valued at more than $7 million. …

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