Harrah's Entertainment completes merger with Apollo affiliates

By Lisa Kerner

Charlotte, N.C., Jan. 28 - Harrah's Entertainment, Inc. completed its merger with Hamlet Merger Inc.

As a result, the issued and outstanding shares of non-voting stock of Harrah's are owned by affiliates of Apollo Management, LP and TPG Capital, LP along with co-investors and members of the company's management.

The voting stock is owned by Hamlet Holdings LLC, which is controlled by individuals affiliated with Apollo and TPG.

Harrah's stock ceased trading on the New York Stock Exchange, the Chicago Stock Exchange and the Philadelphia Stock Exchange at the close of the market on Monday.

It was previously reported that under the December 2006 merger agreement, Harrah's stockholders will receive $90 per share of Harrah's stock in the all-cash transaction valued at about $27.8 billion.

Harrah's stockholders approved the merger agreement in April 2007.

Las Vegas-based Harrah's provides branded casino entertainment.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.