The leading Las Vegas based gaming entertainment company announced that receiving a purchase proposal from Apollo Management and Texas Pacific Group. Apollo Management and Texas Pacific Group will acquire Harrahs outstanding common stock for 81.00 dollars per share.
The acquisition of Harrahs entertainment common stock for 81.00 dollars per share was confirmed in a Special Committee of the company Board of Directors. The Special Committee used the financial advising services of UBS Securities and the legal advising services of Kaye Scholer.
Harrahs Entertainment is currently the biggest provider of casino entertainment in the world. The company was founded in Reno, Nevada in 1937 and it is now headquartered in Las Vegas, Nevada. Harrahs owns and or operates about 40 gaming entertainment properties through subsidiaries mainly under the brand names Harrahs, Caesars and Horseshoe.
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