Board of directors of the world's largest operator of casino Harrah's Entertainment Inc has voted for purchase of the company by investment funds Apollo Management and Texas Pacific Group (TPG) for 17.1 billion dollars. Investment funds will pay to shareholders Harras's 90 dollars for one common stock (6.4 billion dollars), and also will accept company’s liabilities for 10.7 billion dollars.
On October, 2nd Apollo Management LP and Texas Pacific Group have proposed purchase Harrah's. Funds intended to pay on 81 dollars for each Harrah's share. Thus, a total sum of the offer should was make 15 billion dollars.
On December, 18th there was an informal information that Apollo Management and Texas Pacific Group are close to the conclusion of the deal on purchase Harrah's Entertainment Inc. First supposed that investors can offer Harrah's shareholders 90 dollars for the share, which is about 16.7 billion dollars.
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