Caesars to Be Acquired by Fertitta Entertainment for $5.7B
Caesars Entertainment to Be Acquired by Fertitta Entertainment
According to the Wall Street Journal, Caesars Entertainment has agreed to be acquired by Fertitta Entertainment in an all-cash deal valued at $5.7 billion, excluding debt. Under the terms, Fertitta will pay Caesars shareholders $31 per share and assume approximately $11.9 billion of the casino company's outstanding debt.
Deal Details
The acquisition includes a go-shop period through July 11 to solicit and consider alternative acquisition proposals. During this time, Caesars may evaluate offers from other potential buyers.
This deal represents a significant consolidation in the casino industry. Fertitta Entertainment has previously pursued growth through similar acquisitions.
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