Caesars sets September date for shareholder vote on Fertitta takeover

Caesars Entertainment has called a meeting of its shareholders for September 22, 2026, to vote on the merger deal which will lead to the acquisition of Caesars by Tilman Fertitta’s acquisition firm for $17.6 billion. Fertitta’s gaming company had its merger agreement with Caesars approved on May 27. According to the terms of this agreement, Fertitta’s company, Empire Merger Sub, will acquire Caesars and will make it its sole, privately owned subsidiary. The cash deal will pay out $31 for each Caesars common share and will include debts of around $11.9 billion and about $5.7 billion in equity. The merger agreement also includes $200 million and $450 million as termination fees for Caesars and Fertitta’s companies correspondingly. In case the deal fails to close by June 26, 2027, shareholders will be entitled to daily payment of $0.00715 for an individual share after July 1, 2027. The shareholders has to approve three proposals including: Approval of the merger agreement Advisory vote on executive compensation Proposal on the possibility to adjourn the meeting The deal announcement came after several months of speculation about takeovers involving Terra Firma capital investor Carl Icahn. Such deal, if finalized, will end Caesars’ life as a public company and give ownership of one of the largest US casino operators.