Riviera
Author: Diana Heeb Bivona
Its being reported that the Riviera’s largest shareholder, D.E. Shaw Laminar Portfolios LLC, a New York company with 1.2 million shares, refuses to sign off on the proposed merger between Riviera Holdings of Las Vegas and Riv Acquisition Holdings Inc.
On Monday, D.E. Shaw Laminar announced that it would not support the deal because the $17 figure for stock stated in the deal would “substantially undervalues the company’s assets — especially its land on the Las Vegas Strip.”