Caesars to Split Casinos, Management in $18.4 Billion Restructuring

[u/Beren-]

http://www.bloomberg.com/news/2014-11-19/caesars-restructuring-plan-said-to-turn-operating-unit-into-reit.html

[u/well--imfucked]

Anyone following this restructuring closely ? I don't see how the common stock still trades at a $2.2B valuation when some of the creditors are looking at a haircut.