A $16.7 billion buyout that would take Harrah’s Entertainment private should be completed in the near future, according to The Wall Street Journal.
Apollo Management and Texas Pacific Group were also among bidders.
Penn National and other potential bidders have also been courting Harrah’s.
Penn National had offered shareholders approximately $87 a share for the Las Vegas-based entertainment conglomerate, according to published reports.
The deal would follow Harrah’s acquisition of Caesar’s Entertainment for $9.4 billion in cash and stock last year. That deal made Harrah’s the largest U.S. casino operator.
Report by David Wilkening
