Notorious corporate raider Carl Icahn pulls Trump Taj Mahal out of Chapter 11 bankruptcy by purchasing Trump Entertainment Resorts and making it a subsidiary of Icahn Enterprises.
Icahn already tried saving the Taj Mahal once, in 2014, by committing $20 million in financing just before the casino was scheduled to close its doors.
While the casino remains “Trump Taj Mahal,” Donald Trump loses his 10% stake in the property.
Carl Icahn is known for buying companies and running them to the ground. Guess what happens to Trump Taj Mahal.
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