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Levi & Korsinsky, LLP has commenced an investigation into the fairness of the sale of Caesars Entertainment Corporation (“Caesars” or the “Company”) (NASQAQGS: CZR) to Eldorado Resorts, Inc. (“Eldorado”) (NASDAQGS: ERI). Under the terms of the deal, Eldorado will acquire all of the outstanding shares of Caesars for a total value of $12.75 per share, consisting of $8.40 per share in cash consideration and 0.0899 shares of Eldorado common stock for each Caesars share of common stock.
The Caesars merger investigation concerns whether the Board of Caesars breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether Eldorado is underpaying for Caesars shares, thus unlawfully harming Caesars shareholders.
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