Hedge fund activist Carl Icahn has increased his stake in Caesars Entertainment Corp.
In a Securities and Exchange Commission filing Monday, Caesars disclosed the 83-year-old billionaire had upped his previous 15.53 percent stake in company stock to 17.75 percent. He is the company’s largest shareholder.
On Friday, that Icahn had increased his previous 10 percent stake in company stock to 15.53 percent.
Icahn-controlled High River Limited Partnership, Icahn Partners LP and Icahn Partners Master Fund LP, acquired 15 million shares at $8.45 a share over the weekend, spending $126.7 million.
This month, Icahn negotiated with the company to appoint Icahn