![]() 23 but had been rebuffed by Mirage's board. MGM had offered $17 a share, or $3.3 billion, on Feb. The deal was struck after Baldwin asked MGM to up the ante $1 billion, to $21 a share. MGM also assumes $2 billion in Mirage debt.Įxecutives of the two companies wrapped up the deal at dawn today after extensive negotiations that began Thursday in a meeting between Mirage President Bobby Baldwin and MGM Grand executives in Los Angeles. The assets in Las Vegas alone include Mirage's $1.6 billion Bellagio resort and MGM's 5,005-room MGM Grand, the nation's largest hotel. The merger, announced today, creates what one casino analyst described as "a juggernaut of a company" with 14 properties and about 1,000 acres of land for development in three states. ![]() for $4.4 billion cash in a deal that appears to leave Mirage's flamboyant chairman, Steve Wynn, on the sidelines.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |