Caesars Entertainment (CZR) Climbs 11.8% on $7-Billion Buyout

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Caesars Entertainment (CZR) shares surged by 11.8% following news of billionaire Tilman Fertitta’s $7 billion acquisition plan, topping Carl Icahn’s offer. This acquisition comes despite Caesars reporting widening net losses in the previous year. The buyout buzz had previously driven share prices up significantly from earlier levels.

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