Deals
Caesars Deal Boosts Appaloosa After Apollo, TPG Give Ground
- David Tepper’s fund more than doubles recovery in casino case
- Private-equity firms would see ownership stake in company drop
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The long and often ugly battle over the fate of Caesars Entertainment Corp. may finally be nearing an end.
After more than two years of contentious legal disputes, Apollo Global Management LLC and TPG Capital -- the private-equity firms that controlled the casino giant -- and its biggest creditors struck a deal to reorganize the company, and enable its operating unit to emerge from bankruptcy with less debt.