WILMINGTON, Del.--(BUSINESS WIRE)--Rigrodsky & Long, P.A.:
- Do you own shares of Caesars Acquisition Company (NASDAQ GS: CACQ)?
- Did you purchase any of your shares prior to December 22, 2014?
- Do you think the proposed merger value is too low?
- Do you want to discuss your rights?
Rigrodsky & Long, P.A. announces that it is investigating potential legal claims against the board of directors of Caesars Acquisition Company (“Caesars Acquisition” or the “Company”) (NASDAQ GS: CACQ) regarding possible breaches of fiduciary duties and other violations of law related to the Company’s entry into an agreement to merge with Caesars Entertainment Corporation (“Caesars Entertainment”) (NASDAQ GS: CZR).
Click here to learn more: http://www.rigrodskylong.com/investigations/caesars-acquisition-company-cacq.
Under the terms of the agreement, each outstanding share of Caesars Acquisition class A common stock will be exchanged for 0.664 share of Caesars Entertainment common stock, subject to adjustments set forth in the merger agreement, which would result in Caesars Entertainment stockholders owning approximately 62% of the combined company on a fully-diluted basis and Caesars Acquisition stockholders owning approximately 38%. Based on Caesars Entertainment’s closing stock price on December 19, 2014, Caesar Acquisition shareholders would have received consideration valued at approximately $8.96 per share.
The investigation concerns whether Caesars Acquisition’s board of directors failed to adequately shop the Company and obtain the best possible value for Caesars Acquisition’s shareholders before entering into an agreement with Caesars Entertainment.
If you own the common stock of Caesars Acquisition and purchased your shares before December 22, 2014, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Seth D. Rigrodsky or Gina M. Serra at Rigrodsky & Long, P.A., 2 Righter Parkway, Suite 120, Wilmington, DE 19803, by telephone at (888) 969-4242; by e-mail to email@example.com, or at: http://www.rigrodskylong.com/investigations/caesars-acquisition-company-cacq.
Rigrodsky & Long, P.A., with offices in Wilmington, Delaware and Garden City, New York, regularly prosecutes securities class, derivative and direct actions, shareholder rights litigation and corporate governance litigation, on behalf of shareholders in states and federal courts throughout the United States.
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