Rios offer cannot progress unless CZR grants them access, but, they continue to recommend the FEX offer. This is strategic because if we get to 25% of SH approval by the 8th of April the strength of negotiation that Mark will have will be immense. He can then push Rio and GV to up their offers at the threat that he will accept the FEX offer.
This is why I recommend that everyone should accept the FEX offer, because Mark will be in a better position to negotiate a higher offer from GV or Rio, and then naturally pit the two against each other after the 8th of April.
CZR needs to provide due diligence access to Rio for them to go forward, which may have already happened. Mark will not take any offer too seriously unless it is binding, non-conditional nor subject to finance approval as in the case of GV. So, until GV and Rio do this, FEX is the way to go, because GV and Rio could easily pull out as their hands are not tied, while FEX is fully committed!
As some say, better an average looking wife that is faithful and committed than a super model wife who is not.
CZR Price at posting:
30.5¢ Sentiment: Hold Disclosure: Held
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