MGM Mirage board approves repurchase plan
14 May 2008
LAS VEGAS, Nevada -- (PRESS RELEASE) -- MGM Mirage (NYSE: MGM) today announced that its Board of Directors has approved a new stock repurchase program authorizing the Company to purchase up to twenty million shares of Company common stock. The purchases can be made from time to time through open market purchases, privately negotiated third party transactions or other transactions including but not limited to tender offers as market conditions warrant.
The Company additionally announced that it has repurchased 1.27 million shares in the current quarter to date, thereby leaving 1.36 million shares outstanding under the previous share repurchase program approved in December 2007.