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Harrah's reviewing buyout offers
Harrah's Entertainment Inc., proprietor of the World Series of Poker (WSOP) and renowned Las Vegas-based casino operator, is nearing the final stages of a buyout according to a recent Reuters report.
A source close to the issue, the news outlet says, has indicated a board meeting is set for this Wednesday to consider their buyout offers.
Takeover offers from private equity firms Apollo Management and Texas Pacific Group have already been recorded, and the company has also reputedly drawn interest from Penn National Gaming Inc. and hedge fund D.E. Shaw.
Share prices in the world's largest gambling company, which operates casinos under the Harrah's, Caesars and Horseshoe brand names, have already risen 6% since Nov. 29, Reuters reports, when multiple buyout offers were rumored.
Based on a recent share price of $79.59, Harrah's has a market value of $14.8 billion.
News Added: 13 December, 2006
Number of views : 260
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Disclaimer:
People from thousands of jurisdictions access the internet. It is impossible for us to stay current with the laws of every jurisdiction. Please make sure that any activities you engage in online are legal where you live.
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