Billionaire owner of the Golden Nugget Casinos Tilman Fertitta plans to offer Caesars Entertainment $13 per share in a potential deal, sources told CNBC Wednesday.
The merger is expected to be priced between $2 billion and $3 billion in what's known as a dutch tender to create liquidity for shareholders who wanted to sell, according to people familiar with the deal.
Fertitta, whose holdings include the Houston Rockets basketball team and restaurant and entertainment company Landry's, would be chairman and CEO of the combined company, sources said. The merger would create one of the largest gaming and hospitality companies in the world.
Fertitta and Landry's declined to comment on the details of a potential deal.
Fertitta is considering a reverse merger where Caesars would be the acquirer, Reuters reported earlier Wednesday. Caesars shareholders, including private equity firms Apollo Global Management and TPG Global, would remain shareholders in the combined company, according to Reuters.
If the deal is approved, Tilman would put many of his existing Golden Nugget restaurants into the Caesars locations.
— CNBC's Kate Rooney contributed to this report.
from Top News & Analysis https://ift.tt/2COjIup
No comments:
Post a Comment