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Harrah's Sale Imminent

Business, 2006-12-18, by TwoGun

Harrah's Entertainment (HET) has been the target of a private equity buyout for a couple of months. It is speculated that Harrah's management has agreed to a buyout at around $90 a share, valuing the company at about $16.7 billion. News of a finalized agreement can come as early as tomorrow.

Harrah's is well-known in the poker world since it owns the World Series of Poker. Harrah's management will likely stay on in the event of a private equity buyout.

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