Harrah’s sees Apollo and TPG deal closing on January 28

Harrah’s Entertainment Inc. on Monday said it expects the proposed acquisition of the company by Apollo Global Management LLC and TPG Capital L.P. to be completed on January 28.

It subject to customary closing conditions, according to a Securities and Exchange Commission filing. Under the terms of the merger agreement, Harrah’s stockholders will receive USD 90 a share in cash.

The deal, which includes USD 10.7 billion in debt, is valued at USD 27.8 billion. Shares of Harrah’s Entertainment, a Las Vegas-based casino operator, closed Friday at USD 88.35.