- Caesars Entertainment (NASDAQ:CZR) and Caesars Acquisition Company (CACQ) announce that they have agreed to amend the terms of their previously disclosed merger.
- Caesars Entertainment and Caesars Acquisition initially entered into a merger agreement in December 2014.
- The company says the amended and restated merger agreement represents an important milestone in the ongoing restructuring of Caesars Entertainment Operating Company as the restructuring is contingent upon, among other things, the completion of the merger.
- Both Caesars Entertainment and CEOC point to the recent progress made with key creditor groups, and note they are pleased with the support received to date for CEOC's Plan of Reorganization. Caesars Entertainment and CEOC are continuing to engage with remaining creditor groups to achieve consensual agreements.
- A confirmation hearing for CEOC's Plan of Reorganization has been set for January 17, 2017.
- Source: Press Release