Eldorado Resorts Inc. and Caesars Entertainment Corp. on September 3 said their boards are unanimously recommending their $17.3 billion merger proposal.
Both companies will hold special meetings for shareholders to vote on the merger but did not disclose the date and time.
Eldorado on June 24 agreed to acquire all outstanding Caesars shares for $12.75 apiece, comprising an $8.40 cash payment and 0.0899 Eldorado share per Caesars share. Eldorado will own 51% of the combined entity, with Caesars holding the remaining 49%.
The resulting company will keep the Caesars name and operate about 60 casino resorts and gaming facilities across 16 states.
