Caesars Entertainment Inc. debt prices fell after the company struck a takeover deal with billionaire Tilman Fertitta that’s set to create one of the biggest entertainment empires in the US.
The Las Vegas company agreed to be acquired and taken private by Fertitta Entertainment Inc., the parent of Golden Nugget casinos and Landry’s restaurants, in a $5.7 billion all-cash deal, according to a Thursday statement. The offer values the company at $31 a share, representing a 49% premium to its stock price on Feb. 25, when news of a possible combination first surfaced. The agreement includes a “go-shop” ...
