This week, Harrah's Entertainment (NYSE:HET) filed its proxy for its $17.1 billion buyout deal. The buyers include Texas Pacific Group and Apollo Management Group.
Clearly the big winner is Harrah's CEO, Gary Loveman, who will snag as much as $94 million if he gets the deal done. He even gets another $18.9 million if he leaves after the deal is closed.
Interestingly enough, before joining the company in 1998, Loveman was actually an Associate Professor at the Harvard University Graduate School of Business Administration.
Although, Harrah's will definitely need his brainpower to deal with the complex regulatory process. In the proxy filing, there are 12 pages that detail all the regulatory approvals that will be required.
Tom Taulli is the author of various books, including the Complete M&A Handbook and the EDGAR-Online Guide to Decoding Financial Statements.
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