HARRAH\'S SUED
Harrah's sued by shareholders on buy-out offer
Class action lawsuit states the 'inadequate' offer of $81 per share is a disguised management buyout.
October 10 2006: 5:28 PM EDT
"LOS ANGELES (Reuters) -- Two shareholders of Harrah's Entertainment Inc. have sued the company, its board and its proposed buyers, alleging that a $15.1 billion takeover offer is an "apparent camouflaged management buyout."
Private equity firms Texas Pacific Group and Apollo Management have offered to buy Las Vegas-based Harrah's (Charts) for $81 a share, a price called "inadequate" by shareholders Henoch Kaiman and Joseph Weiss........"
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