Jefferies Financial Group Inc. is gauging interest from investors to raise roughly $5 billion in debt to support Carl Icahn in a possible rival bid for Caesars Entertainment Inc., according to Bloomberg sources. Billionaire Tilman Fertitta agreed in May to acquire the casino operator for $5.7 billion in an all‑cash transaction, which includes a go‑shop period through July 11 during which Caesars can evaluate alternative proposals. Icahn’s potential offer is reported at $33 per share, exceeding the $31‑per‑share price that Caesars ultimately accepted from Fertitta. Jefferies is approaching existing creditors to secure backing for Icahn’s takeover proposal, and the plan could enable Icahn to strip Caesars’ assets from its current creditors via covenants that allow moving assets into a subsidiary vehicle. The bid remains subject to change and no final decision has been made. Following the news, Caesars Entertainment stock gained 0.7% before market close and an additional 0.6% in after‑hours trading. This article was generated with AI support and reviewed by an editor.