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23 April 2024

MGM Mirage, Dubai World revise share offer

By Agencies

Hotel operator MGM Mirage and Dubai World have revised their joint tender offer for MGM shares, seeking a larger stake at a price at the top end of the earlier range, an MGM spokeswoman said on Wednesday.

Under the revised plan, MGM and investment company Dubai World plan to acquire 15 million shares at $80 each, a 20 per cent premium to Tuesday's closing price.

Last week, the companies said they planned to jointly buy 10 million shares at $75 to $80 a share. (REUTERS)