Harrah's (HET) volatility increases into expected Spring 2008 buyout close
Harrah's (NYSE: HET) : HET is recently down 80c to $88.14. Apollo/Texas Pacific Group $90 share LBO of HET is expected to close in early 2008. HET debt sale is expected to begin next week. HET over all option implied volatility of 22 is above its 6-month average of 18 according to Track Data, suggesting non-directional price risks. Paul Foster
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