Jefferies (JEF) is seeking investor interest for about $5 billion in debt financing to support Icahn Enterprises' (IEP) potential rival bid for Caesars Entertainment (CZR), Bloomberg reported late Tuesday.
Icahn is considering an offer that would challenge Tilman Fertitta's $5.7 billion all-cash deal for the casino operator, the report said.
Caesars is currently in a "go-shop" period that allows it to consider competing bids through July 11, it added. Icahn, who has two representatives on Caesars' board, has reportedly offered $33 per share, topping Fertitta's $31-per-share proposal.
Jefferies, Caesars Entertainment, and Icahn Enterprises did not immediately respond to MT Newswires' request for comment.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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