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Eldorado Resorts, Isle of Capri set date for shareholder meetings on merger vote

Eldorado Resorts Inc. and Isle of Capri Casinos Inc. will each hold a special meeting Jan. 25, 2017, to vote on Eldorado's proposed acquisition of Isle of Capri.

The boards of both companies have recommend that shareholders vote in favor of the $1.7 billion deal. Under the agreement, Eldorado will acquire all of Isle of Capri's outstanding shares for a per-share consideration of $23 in cash or 1.638 Eldorado common shares.

The proposed merger cleared its first regulatory hurdle earlier in December when the buyout was approved by the West Virginia Lottery Commission.