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Fly News Breaks for December 19, 2019
GLPI, VICI
Dec 19, 2019 | 08:14 EDT
After The Wall Street Journal reported that activist investor Land & Buildings is pushing Gaming and Leisure Properties (GLPI) to pursue a merger with VICI Properties (VICI), Baird analyst RJ Milligan told investors that he thinks such a merger is unlikely. He points to the limited gap in multiple of the two companies, which would limit the merger accretion assuming a takeout premium, and potential change of control costs to support that view. Milligan has an Outperform rating and $30 price target on VICI Properties shares.
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