The billionaire investor holds a 9.8 percent stake in Caesars, according to a regulatory filing Tuesday. Icahn believes that a sale is the best path forward and plans to talk to the board and other shareholders about his views, the filing shows. He called on the company to refrain from appointing a new chief executive officer until he had the chance to do so.
Golden Nugget casino owner Tilman Fertitta approached Caesars about a possible merger last year. The idea was to have the larger Caesars acquire Golden Nugget in a deal valuing Caesars around $13 a share, people familiar with Fertitta's plans have said.