Harrah's to delist common stock
21 Jan 2008
LAS VEGAS, Nevada -- (PRESS RELEASE) -- Harrah's Entertainment, Inc. (NYSE: HET) today announced that it notified the New York Stock Exchange, the Philadelphia Stock Exchange and the Chicago Stock Exchange (collectively, the "Exchanges") of its intent to delist its common stock, par value $0.10 per share, from the Exchanges immediately following the consummation of the transactions contemplated by the agreement and plan of merger dated as of December 19, 2006 by and among Harrah's Entertainment, Hamlet Holdings LLC and Hamlet Merger Inc.
At the effective time of the merger, each issued and outstanding share of Harrah's common stock (other than shares of Harrah's common stock owned by Hamlet Holdings LLC, Hamlet Merger Inc. or any subsidiary of Hamlet Holdings LLC or Harrah's or held in the treasury of Harrah's) shall be canceled and converted into the right to receive $90.00 in cash, without interest.
As a result of the merger, Harrah's will cease to be a publicly-traded company. Subject to customary closing conditions, Harrah's expects to close the transaction on January 28, 2008.