Caesars to reject proposed merger
The company is reportedly not interested in the merger offer from Golden Nugget.
US.- The Caesars Entertainment board is expected to unanimously reject Tillman Fertitta’s deal offer to merge business as soon as this week. Two sources close to the New York Post said that Caesars believes that a deal would saddle the company with too much debt.
After the news of Fertitta approaching the casino company emerged in the industry, shares of Caesars moved notably lower over Monday’s session, as the casino operator slid by 6.9%. The company’s board believes that merging with Fertitta’s empire would leave the operator with too much debt.
Last week, Tilman Fertitta approached Caesars Entertainment Corp to discuss a potential merger. The businessman owns the Golden Nugget Casinos and the Houston Rockets NBA team, among other companies, and wanted his assets on the casinos bought by Caesars.
