Caesars Entertainment Goes Private in $17.6 Billion Deal

Author: Laura Pennington…

Caesars Entertainment Goes Private

Caesars Entertainment has agreed to be taken private by Houston-based Fertitta Entertainment in an all-cash deal valued at $17.6 billion. Shareholders will receive $31 per share in cash.

Deal Details

The $31 per share offer represents a 49% premium over the closing price of $20.77 on Feb. 25. The deal includes the assumption of approximately $11.9 billion in outstanding debt.

Caesars' board has approved the transaction and is seeking shareholder approval. A 'go-shop' period runs through July 11, allowing Caesars to consider competing proposals.

Market Reaction

Shares rose 2.1% to $29.37 in premarket trading Thursday. Trading was briefly halted ahead of the announcement.

Impacted Symbols

Symbols affected by this headline and their sentiment signals

CZRPositive

Caesars Entertainment, Inc.

The news directly concerns CZR; a cash offer of $31 per share (49% premium) and going private will significantly increase the stock's value.

Impact score95%

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