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Article: MGM Mirage Raises Bid for Mandalay Resort
- Article from:
- AP Online
- Article date:
- June 14, 2004
- Author:
CopyrightThis material is published under license from the Associated Press. All inquiries regarding rights should be directed to the Associated Press. (Hide copyright information)
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ADAM GOLDMAN, Associated Press Writer
AP Online
06-14-2004
Dateline: LAS VEGAS
MGM Mirage Inc., pushing ahead with its effort to create the biggest gambling company in the world despite being rebuffed only days ago, raised its bid for rival casino operator Mandalay Resort Group after intense weekend discussions.
MGM Mirage said Monday the two sides had agreed on "all material terms" of the revised $4.8 billion cash offer and both sides said they would present the matter to their boards Tuesday.
Mandalay cautioned it hadn't entered an agreement but said the new terms would "offer significantly greater assurances of closing" for its shareholders.
Under the latest offer, MGM Mirage would pay $71 ...
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