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Larry Ellison reaches deal to buy 98 percent of the sixth-largest island, Lanai.
MarketWatch is reporting: The 141-square mile island near Maui is currently home to just 3,200 people and two resorts but the current owner, real estate firm Castle & Cooke, said Ellison is planning significant investments to bring in more tourism and jobs, the AP said. He is buying roughly 98% of the island and while the cost was not released, it has previously been reported that the asking price was between $500 million and $600 million.
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