An investigation on behalf of investors of Caesars Entertainment Corporation (NASDAQ: CZR) in connection with the proposed takeover was announced and NASDAQ: CZR stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 07/23/2019 -- An investigation was announced concerning whether the takeover of Caesars Entertainment Corporation is unfair to NASDAQ: CZR stockholders.
Investors who purchased shares of Caesars Entertainment Corporation (NASDAQ: CZR) and currently hold any of those NASDAQ: CZR shares have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain officers and directors of Caesars Entertainment Corporation breached their fiduciary duties owed to NASDAQ: CZR investors in connection with the proposed acquisition.
Las Vegas, NV based Caesars Entertainment Corporation, through its subsidiaries, provides casino-entertainment and hospitality services in the United States and internationally. On June 24, 2019, Eldorado Resorts, Inc. (NASDAQ: ERI) and Caesars Entertainment Corporation (NASDAQ: CZR) announced that they have entered into a merger agreement to create the largest U.S. gaming company. Eldorado Resorts, Inc will acquire all of the outstanding shares of Caesars Entertainment Corporation (NASDAQ: CZR) for a total value of $12.75 per share, consisting of $8.40 per share in cash consideration and 0.0899 shares of Eldorado Resorts, Inc common stock for each Caesars Entertainment Corporation share of common stock based on Eldorado's 30- calendar day volume weighted average price per share as of May 23, 2019, reflecting total consideration of approximately $17.3 billion, comprised of $7.2 billion in cash, approximately 77 million Eldorado Resorts, Inc common shares and the assumption of Caesars outstanding net debt (excluding face value of the existing convertible note).
However, given that at least one analyst has set the high target price for NASDAQ: CZR shares at $13.00 per share and given that NASDAQ: CZR shares traded in 2018 as high as $14.20 per share, the investigation concerns whether the offer is unfair to: CZR stockholders. More specifically, the investigation concerns whether the Caesars Entertainment Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.
Caesars Entertainment Corporation reported that its annual Total Revenue rose from over $4.8 billion in 2017 to over $8.18 billion in 2018 and that its Net Loss of $368 million in 2017 turned to a Net Income of $303 million in 2018.
Shares of Caesars Entertainment Corporation (NASDAQ: CZR) closed on July 22, 2019, at Per share.
Those who are current investors in Caesars Entertainment Corporation (NASDAQ: CZR) shares have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
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About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
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