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Carl Icahn to team up with Tilman Fertitta to acquire Caesars

Published

6 years ago

March 22, 2019

Niji Narayan

Carl Icahn to team up with Tilman Fertitta to acquire Caesars

Photo Source: fortune.com

Reading Time: < 1 minute

Billionaire investor Carl Icahn could team up with another billionaire and owner of the Houston Rockets and Golden Nugget Casino, Tilman Fertitta to make an acquiring bid for Caesars Entertainment. Icahn is presently the company’s controlling shareholder.

Caesars had rejected the merger offer from Fertitta. The Icahn-Fertitta combination could turn out to be an irresistible one for Caesars.

Icahn now owns 28.5% shares in the company. That means the new partnership needs to buy only 71.5% of shares to acquire the firm. Caesars’ shares currently trade at $8.37 a share, giving the company a valuation of $5.6 billion.

Fertitta, who runs five Golden Nugget casinos including Las Vegas and Biloxi, Miss., is worth $4.8 billion, according to Forbes.

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Niji Narayan

Niji Narayan has been in the writing industry for well over a decade or so. He prides himself as one of the few survivors left in the world who have actually mastered the impossible art of copy editing. Niji graduated in Physics and obtained his Master’s degree in Communication and Journalism. He has always interested in sports writing and travel writing. He has written for numerous websites and his in-depth analytical articles top sports magazines like Cricket Today and Sports Today. He reports gaming industry headlines from all around the globe.