Thursday, June 3, 2010

Hedge fund agrees to exchange $710M in debt for 9.9 percent stake in Harrah's Entertainment



LAS VEGAS (AP) — The -based hedge fund run by billionaire John Paulson has agreed to buy a 9.9 percent stake in in exchange for $710 million in debt from the world's largest casino operator. Harrah's Entertainment said Thursday that the exchange is part of a $1.12 billion transaction that also gives an additional 5.7...

Source: http://rss.wn.com

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