MGM shareholders re-elect 11-person board of directors

1 Jun 2015

By Howard Stutz

Shareholders in MGM Resorts International re-elected the company’s 11-person board of directors at the annual meeting Thursday.

Company spokesman Clark Dumont said in an email the board was re-elected, and the company would release the official vote total in a filing with the Securities and Exchange Commission.

MGM had been challenged in a proxy fight by New York investment fund Land and Buildings, which sought to elect four candidates to the company’s board. The investment fund also proposed spinning off some of MGM’s hotel-casinos into a real estate investment trust.

Land and Buildings, which owned less than 1 percent of MGM’s shares, pulled the proxy May 20 after several larger shareholders, including the investment arm of company founder Kirk Kerkorian, said they were supporting the current MGM board.

MGM Resorts Chairman Jim Murren said earlier this year a REIT concept is one of several actions the company is exploring to create additional value.

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	MGM shareholders re-elect 11-person board of directors 1 Jun 2015 By Howard Stutz <a href='https://ad.casinocity.com/adclick.php?n=a21efcd1'><img src='https://ad.casinocity.com/adview.php?what=-site:vendors/width:250/RON&n=a21efcd1' border='0' alt='' /></a> Shareholders in MGM Resorts International re-elected the company’s 11-person board of directors at the annual meeting Thursday. Company spokesman Clark Dumont said in an email the board was re-elected, and the company would release the official vote total in a filing with the Securities and Exchange Commission. MGM had been challenged in a proxy fight by New York investment fund Land and Buildings, which sought to elect four candidates to the company’s board. The investment fund also proposed spinning off some of MGM’s hotel-casinos into a real estate investment trust. Land and Buildings, which owned less than 1 percent of MGM’s shares, pulled the proxy May 20 after several larger shareholders, including the investment arm of company founder Kirk Kerkorian, said they were supporting the current MGM board. MGM Resorts Chairman Jim Murren said earlier this year a REIT concept is one of several actions the company is exploring to create additional value. Copyright GamingWire. All rights reserved.