Merger talks between Circus Circus Enterprises and Hilton Hotels that would have placed nearly a third of the cash flow and a quarter of the hotel rooms on the Las Vegas Strip in single hands are off. The US$2.8 billion deal hit a snag when the companies reportedly were unable to develop a tax-free structure for Hilton to spin off its hotel and casino holdings, and clashed over valuation and management structure.
Merger Bust
Merger talks between Circus Circus Enterprises and Hilton Hotels that would have placed nearly a third of the cash flow and a quarter of the hotel rooms on the Las Vegas Strip in single hands are off. The US$2.8 billion deal hit a snag when the companies reportedly were unable to develop a tax-free structure for Hilton to spin off its hotel and casino holdings, and clashed over valuation and management structure.
