Tilman Fertitta in Talks to Buy Caesars for $7 Billion: WSJ
International news
Billionaire Tilman Fertitta has held exclusive talks to buy Caesars Entertainment Inc. for about $7 billion after topping a competing bid from Carl Icahn, the Wall Street Journal reported, citing people familiar with the matter.
Fertitta’s company has been talking about paying about $34 a share for Caesars, a casino and hotel operator, the newspaper reported. That’s about 31% over the Tuesday closing price of Caesars shares.
Shares of Caesars rose 12% to close at $29.07 Wednesday in New York.
An announcement isn’t imminent and it’s possible the talks won’t lead to a deal, the newspaper said.
Caesars had received an an offer of around $33 a share cash from Icahn Enterprises, the newspaper said.
Caesars declined to comment while Fertitta didn’t responded to requests for comment from Bloomberg News. Fertitta is the owner of the Golden Nugget casino chain, along with Landrys restaurants and the NBA’s Houston Rockets.
By Rob Golum