the company has already identified<\/a> the properties it’s willing to part with.<\/p>\nDefinitely A Big Deal<\/h2>\n
In valuing Caesars at $17.3 billion, Eldorado is paying more than quadruple its current market capitalization of $4.01 billion to acquire that company and is engaging in one of the largest takeovers in gaming industry history.<\/p>\n
Through the first half of 2019, the takeover was one of the 10 largest mergers and acquisitions announced in the US year-to-date, but its dwarfed in size by this year’s biggest: Bristol-Myers Squibb’s $89.5 billion combination with biotech firm Celgene.<\/strong><\/p>\nShares of both Caesars and Eldorado were higher in late trading on news that investors approved the marriage.<\/p>\n","protected":false},"excerpt":{"rendered":"
Eldorado Resorts, Inc. (NASDAQ:ERI) and Caesars Entertainment Corp. (NASDAQ:CZR) investors today overwhelmingly voted in favor of the regional gaming company’s $17.3 billion takeover of the Caesars Palace operator. Each company held special shareholder meetings on Friday in Nevada \u2013 Eldorado in its home city of Reno and Caesars at the Tuscana Chapel inside Caesars Palace […]<\/p>\n","protected":false},"author":46,"featured_media":119912,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[33810,32093],"tags":[],"acf":[],"yoast_head":"\n
Eldorado, Caesars Shareholders Vote in Favor of Takeover Deal<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n