Home PageTell a Friend
Gambling NewsletterSite MapHelp Using CasinoMan.Net		04 July 2009
Golden Casino
 

Private-equity firms make $15.05B offer for Harrah's



Printer Friendly VersionPost a CommentTell a Friend about this Article03 October 2006
As reported by: Herald Tribune
Harrah's Entertainment received a $15.05 billion offer for the company from two private-equity firms in what would be the biggest deal ever for a casino operator and the fifth-largest leveraged buyout in history.

Harrah's said Monday that Apollo Management and Texas Pacific Group are offering $81 per share in cash, a 22 percent premium to Harrah's closing stock price Friday on the New York Stock Exchange.

Harrah's shares surged $9.25, or 13.9 percent, to close at $75.68 on Monday on the New York Stock Exchange.

Harrah's said it had not committed to the deal, but it established a special committee of independent directors to review the offer and retained UBS Securities LLC as an adviser.

The company did not respond to calls for comment.

Article By: Herald Tribune

Related Articles:

The Harrah's Foundation Announces $1.1 M Donation to the AARP Foundation - 10 June 2009
Harrah's Entertainment and MTV Games' Crowns The Gurnkillers as the Winner of The Total Rock, Total Rewards Rock Band(R) Competition - 13 May 2009
PokerTek Reports First Quarter 2009 Financial Results - 05 May 2009
Harrah's New Orleans Hosts the Total Rock, Total Rewards Rock Band(R) Regional Competition on April 30th - 30 April 2009
New Harrahs Internet Operations Led by Former PartyGaming Exec - 15 April 2009

Recommended Casinos:

Da Vinci's Gold - Welcome bonus up to $350 free - click here
English Harbour - $450 welcome bonus for new players - click here
Vegas Casino Online - Get 100% bonus up to $125 free - click here
Rushmore Casino - 100% match bonus up to $400 on first deposit - click here

Readers Comments:

Post a Comment
No comments have been made about this article.