Caesars (CZR) rose 11% on a report that billionaire Tilman Fertitta is in discussions to purchase the casino company for about $7 billion.
Fertitta’s company, Fertitta Entertainment, has been talking about paying around $34 a share for Caesars, according to a WSJ report on Wednesday, which cited people familiar with the matter.
The Fertitta offer would top a bid from billionaire Carl Icahn, who made an all-cash offer of $33 a share for Caesars, according to the report.
Any deal announcement isn’t imminent, the WSJ said.
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