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Caesar and Harrah’s Trade Results. 2005-06-20
Caesars Entertainment stockholders have joined with Harrahs Entertainment. The merger was completed last week, June 13th, and then announced to the press. The merger is supposed to be for financial gains to split stockholder information, and fees.
A Caesar stockholder, who chooses to take Harrah common stock, will get 0.2211 shares of it, and $5.66 in cash in exchange. Those who do not elect for shares will receive cash instead $17.75 for every share exchanged. The agreement doesn’t share its financial dividends with the media, so that part of the exchange is left unclear. What is alternatively known is that the price sale for the stock has a ten day trading duration that ended June 10th.
The outcomes of the trade days have been passed on to the Bank of New York. The number left after it all was 314,824,170 shares of the Caesars common stock outstanding. Of the share stated, -307,059,463 or 97.53% chose to get Harrah’s common stock, and -7,764,707 shares or 2.47% elected for the cash rewards. Shares must be the most important part to gain part of the multi- dollared pie that Harrah alone has, Casers would be lucky to be in on that, and their votes on the ten day trade shows cash money isn’t what they are after, but a good investment in the growing corporation.
(By Sammy)