Caesars merger was approved

Credits: NY Times.
Credits: NY Times.

Two Caesars subsidiaries will be merged as the company’s stockholders approved the plan.

US.- Shareholders of Caesars companies finally approved the merger between Caesars Entertainment Corporation and Caesars Acquisition Company. The merger obtained the green light from stockholders from both subsidiaries. The next steps to complete the business plan were discussed yesterday.

The Merger (and merger agreement amongst the companies) received the affirmative vote of 87.8 percent of Caesars Entertainment’s outstanding shares of common stock as of June 19, 2017 record date for the special meeting and the affirmative vote of 95.2 percent of Caesars Acquisition’s outstanding shares of common stock, both the same date. Stockholders of Caesars Entertainment also approved a number of other matters related to the restructuring of Caesars Entertainment Operating Company, Inc. and its emergence from bankruptcy.

“Receipt of these stockholder approvals is an important milestone to complete the merger of Caesars Entertainment and Caesars Acquisition and conclude the restructuring of Caesars Entertainment Operating Company,” said Mark Frissora, President and Chief Executive Officer of Caesars Entertainment. “The successful conclusion of the restructuring will create new opportunities for incremental investments in growth. We appreciate our stockholders’ support in voting to approve the merger.”

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