LIVE MARKETS-Caesars director Mather departs, adding to chatter
Caesars Entertainment, Inc. CZR | 0.00 | |
Dow Jones Industrial Average DJI | 0.00 | |
Healthcare Select Sector SPDR XLV | 0.00 | |
CBOE Volatility Index | 0.00 | |
iShares Core S&P Mid-Cap ETF IJH | 0.00 |
Welcome to the home for real-time coverage of markets brought to you by Reuters reporters. You can share your thoughts with us at markets.research@thomsonreuters.com
CAESARS DIRECTOR MATHER DEPARTS, ADDING TO CHATTER
Caesars Entertainment CZR.O said on Wednesday that director Courtney Mather left the board this week but didn’t elaborate except to say his “resignation is not the result of any disagreement with the company.”
Caesars agreed in May to be sold to Houston Rockets owner Tilman Fertitta for around $6 billion, or $31 a share, in a deal that included a go-shop provision that enables the firm to “solicit, consider and negotiate alternative acquisition proposals from third parties” through Saturday.
There has been speculation that activist investor Carl Icahn might be preparing a topping bid and Mather, a former Icahn lieutenant, leaving three days before the go-shop period ends raises suspicions. Mather did not return a phone call requesting comment.
Mather, who runs the Vision One fund, joined the Caesars board in 2019 when Icahn settled with Caesars in return for three board seats. Mather worked for Icahn until 2020 and was instrumental in pushing for turnaround strategies at target companies and serving as Icahn's representative on various corporate boards.
Ever since Fertitta agreed to buy Caesars, speculation has mounted in the market that someone else might be working on a topping bid.
Caesars shares were down 1.6% on Wednesday at $29.87, on a day when all three of the major U.S. stock indexes were lower.
(Svea Herbst-Bayliss)
*****
EARLIER ON LIVE MARKETS:
BOFA CLIENTS TURN NET BUYERS OF US STOCKS AS HEDGE FUND BUYING HITS RECORD CLICK HERE
A BIP TOO FAR: MORTGAGE RATES EDGE UP, REFI BORROWERS REBEL CLICK HERE
WALL STREET SELLS OFF AS WAR WORRIES REIGNITE CLICK HERE
MARKETS RATTLED BY IRAN REMARKS AS S&P 500 SUPPORT COMES INTO VIEW CLICK HERE
OIL, NOT DEFENCE, IS THE IRAN TRADE - FOR NOW CLICK HERE
HSBC JOINS THE ROTATION CLUB, SWAPS EM ASIA FOR EUROPE CLICK HERE
DATA CENTRES IN SPACE: SPOTTING THE WINNERS CLICK HERE
ENERGY STOCKS GAIN, THE REST STRUGGLE CLICK HERE
EUROPE BEFORE THE BELL: EYES ON THE GULF AGAIN CLICK HERE
CEASEFIRE? WHAT CEASEFIRE? CLICK HERE