| Mandalay Resort Group |
Article Index for Mandalay |
Website Links For Mandalay |
Information AboutMandalay Resort Group |
| CATEGORIES ABOUT MANDALAY RESORT GROUP | |
| defunct gambling companies | |
| companies based in las vegas | |
|
HISTORY On June 4 , 2004 , one of Mandalay Resort Group's largest competitors, MGM MIRAGE , announced a bid to acquire it for $68 per share plus assumption of debt. The stock closed at $60.27 per share on June 4. Although the proposal was announced after the close of trading on June 4, the volume of trading in Mandalay Resort Group stock on that day was quadruple the normal, with the stock closing at $60.27 per share. The ensuing negotiations between the two companies included at one point an announcement that the Mandalay board was rejecting the offer because of antitrust concerns. On June 15 , 2004, however, both companies' boards approved a revised offer of $71 per share. The agreement called for MGM MIRAGE to pay $4.8 billion and to assume $2.5 billion in debt. The transaction was completed on April 26 , 2005 for $7.9 billion. HOTELS AND CASINOS WHEN ACQUIRED BY MGM MIRAGE
|
|
|