Put money in thy purse. ~ William Shakespeare (Othello)
Are Caesars Entertainment (CZR) shareholders in for good times after its just-approved merger agreement with Eldorado (ERI)?
Per the merger deal, Caesars stock has been valued at $12.75 and the consideration involves payment of $8.40 per share in cash plus 0.0899 shares of ERI common stock for each Caesars share. Caesars market price is $13.04 and Eldorado is quoting $53.40 as on 19 Nov. 2019. The transaction is expected to close in the first half of 2020.
The Caesars stock has been on a runaway rally