MGM CEO and president Bill Hornbuckle described receiving shareholder approval as a “major milestone” for the company as it pursues its growth strategy. The involved parties expect the settlement to begin around September 22. The US casino firm said it will use existing cash to finance the deal, which received regulatory approval late last month.Īlthough 96% of LeoVegas shareholders have greenlit the sale, the remaining investors will have until September 14 to also accept the offer to tender. The total value has dropped by around $3m since then. MGM first made a play for LeoVegas in May this year, at the time offering around $607m for 100% of the firm’s shares. Received regulatory approval late last month In a vote this week, 96% of LeoVegas shareholders accepted the public tender offer of SEK61 ($5.71) per share. MGM Resorts International is edging ever closer to a buyout of Swedish gaming giant LeoVegas.
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