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MGM Resorts International News
Gaming Industry: Experts See Land as Key Deal Asset
23 Jun 2004
MGM Mirage's plans to buy Mandalay Resort Group would set the company up to be the primary Strip developer for the next 15 years, company executives and industry analysts said.
Mandalay Postpones Stockholders Meeting
23 Jun 2004
Mandalay Resort Group has postponed its annual meeting of stockholders in order to include for consideration at the annual meeting the merger agreement among Mandalay, MGM Mirage and a subsidiary of MGM Mirage.
MGM Mirage-Mandalay Deal May Produce Big Debt Burden
22 Jun 2004
While MGM Mirage is keeping mum about its plans to finance the largest corporate buyout in gaming industry history, Wall Street analysts are speculating the deal is likely to leave the surviving company heavily mortgaged and deeply in debt.
MGM Mirage Expansion: Deal Struck for Resort in Macau
22 Jun 2004
With the ink barely dry on its $7.9 billion proposal to buy Mandalay Resort Group, MGM Mirage on Monday entered into a joint venture agreement with Pansy Ho Chiu-king to develop, build and operate a hotel-casino resort in Macau.
MGM Mirage-Mandalay Deal: Wizard of Mergers
21 Jun 2004
Think of billionaire Kirk Kerkorian, 87, majority owner of MGM Mirage and the Metro-Goldwyn-Mayer film studios, as a little old man pulling the strings behind a curtain and Las Vegas as the city at the end of his yellow brick road.
Merging Companies Bet on Convention Strength
17 Jun 2004
As the proposed merger of MGM Mirage and Mandalay Resort Group advances, industry watchers are beginning to wonder what the unified company could do to the big Las Vegas convention industry.
MGM Mirage Makes Fortune Diversity List
17 Jun 2004
Las Vegas-based MGM Mirage ranked 42nd on the list of the top 50 companies for minorities.
MGM Mirage-Mandalay Execs Ponder Future
17 Jun 2004
MGM Mirage bosses on Wednesday started pulling back the curtains on future plans for what will be the largest gaming company in the world after the merger with Mandalay Resort Group.
MGM to Sell MotorCity Casino
17 Jun 2004
News Brief: MGM Mirage Inc. plans to sell MotorCity Casino as soon as its $7.9 billion purchase of MotorCity Casino’s current owner Mandalay Resort Group Inc. is finalized early in 2005.
MGM-Mandalay Merger a Non-Issue for New Jersey
17 Jun 2004
News Brief: The blockbuster deal involving MGM Mirage and Mandalay Resort Group will not need regulatory approval in New Jersey despite MGM's half ownership of the Borgata Casino Hotel & Spa here.
Deal Draws Mixed Reaction From Tourists, Casino Workers
16 Jun 2004
News of the biggest marriage Las Vegas has ever seen -- MGM Mirage's $7.9 billion buyout of Mandalay Resort Group -- drew mixed reactions from tourists and workers this morning.
Combined MGM Mirage, Mandalay Vow to Grow
16 Jun 2004
Expansion opportunities in Las Vegas were key motivators for the merger, MGM MIRAGE officials said today.
MGM: Buyout Gets OK
16 Jun 2004
After a seven-hour meeting behind closed doors, Mandalay Resort Group's board of directors late Tuesday gave a thumbs up to MGM Mirage's $7.9 billion buyout proposal, an MGM Mirage executive said late Tuesday.
Suits Demand Best Deal for Shareholders
15 Jun 2004
Two Mandalay Resort Group shareholders filed separate suits last week in Clark County District Court accusing the company's executives and board of directors of failing to protect shareholders' interests during MGM MIRAGE's unsolicited takeover bid.
Minorities Not United on Merger Possibility
15 Jun 2004
Representatives of Las Vegas minority business communities begin contemplating how the deal would affect opportunities for minority vendors.
MGM Mirage Cites 'Juggernaut'
15 Jun 2004
If MGM Mirage consummates the biggest casino deal in history by acquiring Mandalay Resort Group, regulators aren't likely to require the company to sell off any of the combined entity's 29 casinos with the possible exception of a property in Detroit.
MGM Mirage and Mandalay: $7.9 Billion Deal Reached
15 Jun 2004
The boards are expected to OK a revised all-cash offer of $71 per share by MGM Mirage, hammered out by the two Las Vegas-based companies over the weekend, to take over Mandalay.
Mandalay is Weighing Sweetened Merger Deal
14 Jun 2004
The biggest merger in casino industry history may be back on.
Proposed MGM Mirage Buyout of Mandalay Resort Group: What Happens Next?
14 Jun 2004
Mandalay Resort Group may be saying no to a marriage with MGM Mirage, but industry insiders, analysts and experts still see some merits to a union between the two gaming giants.
MGM Mirage Makes New Offer to Mandalay
14 Jun 2004
Under the new proposed terms, MGM Mirage would pay $71.00 per share in cash, representing a premium of 30% to Mandalay's closing share price on June 3, the day before the initial offer was made.
Mandalay Resort Group Rejects MGM Proposal
11 Jun 2004
Mandalay Resort Group Board of Directors has rejected the proposal because it did not provide sufficient assurance to Mandalay shareholders that the transaction would close.
MGM Offer Stalled by Price
11 Jun 2004
Concerns that antitrust issues might trip up MGM Mirage's plans to buy Mandalay Resort Group were fading fast Thursday as talks between the companies seemed to be boiling down to nothing more than price.
Kerkorian Succession Issue Highlighted by Merger Offer
11 Jun 2004
The succession plan for Kerkorian's 57 percent interest in MGM Mirage is private and experts appear to have little idea who could end up controlling the casino company in the event he passes away.
MGM Mirage Holds Firm on Offer
10 Jun 2004
Wall Street analysts and a source close to the talks said MGM Mirage is holding firm
on its original $68 per share offer to buy Mandalay Resort Group.
'Wal-Mart Effect' Seen With Potential Casino Merger
9 Jun 2004
As talks continue on a potential merger between MGM Mirage and Mandalay Resort Group, the potential fallout of such a blockbuster deal is being assessed by the companies' employees and suppliers.
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