Harrah's discusses buyout offers
11 Dec 2006
NEW YORK, New York – As reported by Reuters: "The board of Harrah's Entertainment Inc., the world's largest gambling company, plans to meet on Wednesday to consider buyout offers, a source familiar with the matter said Monday, confirming a Wall Street Journal story.
"The paper also reported that Harrah's special committee of independent directors has set a deadline of Tuesday on all bids, according to those people.
"…Harrah's said on Oct. 2 that a committee of non-management directors was reviewing an $81-per-share takeover offer from private equity firms Apollo Management and Texas Pacific Group. The private equity shops' offer has since risen to $83.50 per share, or about $15.5 billion…"