STOCKS | FTC Seeks Additional Information on Fertitta-Caesars Merger

According to Sina Finance, the U.S. Federal Trade Commission asked Caesars Entertainment and Fertitta Entertainment for additional information as they move ahead with a merger valued at about $5.7 billion. Caesars Entertainment and Fertitta Entertainment said on Thursday that they would cooperate with the FTC and provide the supplemental information and written materials requested by regulators. Billionaire Tilman Fertitta reached an agreement in May to acquire Caesars Entertainment, with the deal offering shareholders $31 per share and assuming about $11.9 billion in the casino operator's outstanding debt. After the transaction closes, more than 50 Caesars resorts will become part of Fertitta's business empire. Caesars also disclosed in a separate filing with the U.S. Securities and Exchange Commission that Jesse Lynn and Ted Papapostolou will resign from the company's board, and Icahn Group gave up its right to nominate replacement directors.