Caesars Settlement Is Approved: U.S. District Court...
From Times Staff and Wire Reports
Caesars Settlement Is Approved: U.S. District Court in New Jersey approved a settlement of lawsuits over Caesars World’s $22-per-share offer for the nearly 2.2 million shares of Caesars New Jersey that the Los Angeles company doesn’t already own. Under the settlement, Caesars World agreed to pay interest on the offering price for shares tendered and to make an additional 25-cent cash payment to shareholders whose stock is purchased under the offer, which is set to expire Friday. Caesars World also agreed to merge with Caesars New Jersey if it buys enough stock to give Caesars World a 90% stake in the New Jersey company. Caesars World owns 86.6% of Caesars New Jersey.
