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Ambassador Fertitta Strikes $17.6 Billion Deal for Caesars Entertainment

By: Fabio Cupolo Carrara

Tilman Fertitta, the Houston billionaire serving as U.S. Ambassador to Italy, has agreed to acquire Caesars Entertainment in an all-cash deal valued at approximately $17.6 billion, plus the assumption of roughly $11.9 billion in Caesars debt.

Under the agreement announced Thursday, Caesars shareholders would receive $31 per share — a 49% premium over the company’s unaffected share price as of Feb. 25 and a 46% premium over its 30-day volume-weighted average price as of the same date.

Source: https://lavocedinewyork.com

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