Reports Harrah's (HET) Deal Done at $90

Reports the Harrah's Entertainment Inc. (NYSE: HET) deal is done. According to the Wall Street Journal, Apollo Management and Texas Pacific Group will pay $90 per share for the casino operator. WSJ Link $

Apollo and Texas Pacific Set to Win Harrah's (HET) Auction With $90+ Bid - WSJ

According to reports from the Wall Street Journal Sunday, the private equity team of Apollo Management and Texas Pacific Group are set to win the auction for Harrah's Entertainment (NYSE: HET), with an offer of at least $90 per share.

The article said while a last minute hiccup could still derail the deal, an announcement is expected on Monday.

Street Waits on Harrah's (HET) Bid News

The street is still waiting on a decsion from Harrah's Entertainment Inc. (NYSE: HET) related to buyout bids for the casino company.

According to reports from the Wall Street Journal today, Penn National Gaming (Nasdaq: PENN) made a competing offer to the bid from private equity groups Texas Pacific Group and Apollo Management, which earlier in the week was raised to $87.

Harrah's Entertainment (HET) Sees Volatility Mid-Day on Rumors

Harrah's Entertainment Inc. (NYSE: HET) has seen some volatility mid-day today as rumors swirl the company could opt for a recapitalization versus a private equity buyout. A decision from the company is expected later in the week.

The latest reports suggested the private equity group of Apollo Management and Texas Pacific Group would raise their bid from $83.50 to $87. The stock is currently at $79.40.

Private Equity Group Expected to Raise Harrah's Bid to $87 - WSJ

According to reports from the Wall Street Journal, Apollo Management and Texas Pacific Group are expected to raise their bid for Harrah's Entertainment (NYSE: HET) from $83.50 to $87.

Final bids for Harrah's are due today and a decision from the company is expected later this week.

Shares of Harrah's closed at $79.74 on Monday.

Home Depot (HD) CEO Downplays LBO Speculation - Paper

According to reports from the Atlanta-Journal Constitution, Home Depot (NYSE: HD) CEO Bob Nardelli downplayed speculation that the company was the target of a takeover by private equity firms.

Nardelli told the paper, "somebody is probably running the number on us on any given day." He also said the media reports are, "an unfortunate distraction."

Recent reports from the New York Post suggested buyout firms Kohlberg Kravis Roberts and Texas Pacific Group have explored the possibility of a record $100 billion leveraged buyout of the home improvement giant.

Shares of Home Depot are 3.8% higher in mid-day action Friday.

Link to AJC.com article

CNBC's Faber Reports on a Competing Bid for Harrah's Entertainment (HET)

CNBC's David Faber reports on a competing bid for Harrah's Entertainment Inc. (NYSE: HET). Faber said a Penn National Gaming Inc. (Nasdaq: PENN) group, including DE Shaw, Lehman Brothers, and Wachovia are looking at a bid for Harrah's. Faber said it is not clear if the Penn group could present a competitive bid.

Currently, Harrah's is evaluating a bid from Apollo Management Group and the Texas Pacific Group, which was last reported to be around $83-$84 per share.

Harrah's is up 1.2% to $77.59 in afternoon action.