WILMINGTON, Del., Jan. 5, 2015 (GLOBE NEWSWIRE) -- Andrews & Springer LLC , a boutique securities class action law firm focused on representing shareholders nationwide, is investigating potential breach of fiduciary duty claims against the Board of Directors of Caesars Acquisition Company ("Caesars Acquisition" or the "Company") relating to the sale of the Company to Caesars Entertainment Corp. ("Caesars Entertainment"). On December 22, 2014, Caesars Acquisition and Caesars Entertainment announced the signing of a definitive merger agreement pursuant to which Caesars Entertainment will acquire Caesars Acquisition in a merger worth roughly $1 billion. As a result of the merger, Caesars Acquisition shareholders will receive only 0.664 shares of Caesars Entertainment Corp. for each share of Caesars Acquisition.
Our investigation so far has revealed that the merger is not in the best interests of shareholders. As indicated by several news outlets, the deal is merely intended to place Caesars Entertainment in a better position to restructure its $18.4 billion debt load in preparation for bankruptcy. The consideration shareholders are expected to receive is significantly inadequate and does not currently reflect the Company's value. In fact, the consideration that shareholders are expected to receive equates to a negative 5% premium based on the closing prices of Caesars Acquisition and Caesars Entertainment on Friday, December 19, 2014, the last day of trading prior to the announcement of the proposed merger. Moreover, following the merger, shareholders are expected to be substantially diluted, owning only 38% of the combined company.
As a result of this news, Andrews & Springer is investigating whether Caesars Acquisition directors are breaching their fiduciary duties by agreeing to a conflicted deal that harms shareholders.
If you currently own shares of Caesars Acquisition and want to receive additional information and protect your investments free of charge, please visit us at http://www.andrewsspringer.com/cases-investigations/CACQ or contact Craig J. Springer, Esq. at cspringer@andrewsspringer.com , or call toll free at 1-800-423-6013. You may also follow us on LinkedIn – www.linkedin.com/company/andrews-&-springer-llc , Twitter – www.twitter.com/AndrewsSpringer or Facebook - www.facebook.com/AndrewsSpringer for future updates.
Andrews & Springer is a boutique securities class action law firm representing shareholders nationwide who are victims of securities fraud, breaches of fiduciary duty or corporate misconduct. Having formerly defended some of the largest financial institutions in the world, our founding members use their valuable knowledge, experience, and superior skill for the sole purpose of achieving positive results for investors. For more information please visit our website at www.andrewsspringer.com . This notice may constitute Attorney Advertising.
Craig J. Springer, Esq. Call Toll Free: 1-800-423-6013
