Wembley Adjourns Vote on Takeover

2 Apr 2004

LONDON – As reported by Reuters: "UK racetrack owner Wembley has postponed a shareholder vote on an agreed bid from U.S. casino operator MGM Mirage in order to weigh up a higher 287 million pounds ($527 million) offer from a group of U.S. leisure firms.

"…This week a consortium including golf course-to-hotel firm Starwood Capital and Bahamas resort owner Kerzner International (NYSE:KZL) topped MGM Mirage's 270 million pounds, or 750 pence per share, bid with an 800p per share offer.

"Shareholders were due to vote on MGM's original proposal next week but the board said on Friday it had decided to postpone the meeting after the Kerzner consortium -- known as BLB Investors -- launched its counter bid…"

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	Wembley Adjourns Vote on Takeover 2 Apr 2004 <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> LONDON – As reported by Reuters: "UK racetrack owner Wembley has postponed a shareholder vote on an agreed bid from U.S. casino operator MGM Mirage in order to weigh up a higher 287 million pounds ($527 million) offer from a group of U.S. leisure firms. "…This week a consortium including golf course-to-hotel firm Starwood Capital and Bahamas resort owner Kerzner International (NYSE:KZL) topped MGM Mirage's 270 million pounds, or 750 pence per share, bid with an 800p per share offer. "Shareholders were due to vote on MGM's original proposal next week but the board said on Friday it had decided to postpone the meeting after the Kerzner consortium -- known as BLB Investors -- launched its counter bid…"