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Omeonesay Okespay Ootay Oonsay - MGM Buys Mandalay

By Chuckmonster on Monday, 14th June 2004 4:35pm
  » filed under Las Vegas  comments: 0

   

Mandalay Resort Group management has tentatively agreed to MGM Mirage's sweetened bid to acquire it for $4.8 billion in a deal to create the world's largest casino empire, MGM said on Monday.

Mandalay said the revised deal was better for its shareholders. MGM raised the bid price by 4 percent, to $71 per share from $68 per share, and dropped a loophole in its previous offer that would have allowed it to exit the deal in 15 months if it ran into regulatory problems.



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