The option conversion agreement announced on the 17th gives a fairly strong incentive to the option and performance right holders (who are of course the board and/or management) for the FEX deal to go through. If the RIO deal goes through, CZR will still exist, and those options and performance rights remain with CZR. A much harder bar for them to achieve an exercise of them.
Yet another reason why I am starting to question as to whether the board are acting in the best interests of all holders.
CZR Price at posting:
29.8¢ Sentiment: Hold Disclosure: Held
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