By Al Moe, About.com Guide

Mandaly Bay Agrees to MGM Mirage Terms

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June 15, 2004

Mandaly Bay Agrees to MGM Mirage Terms
MGM MIRAGE Monday announced that following discussions throughout the weekend, its management and the management of Mandalay Resort Group have agreed on all material terms of an offer whereby MGM MIRAGE would acquire Mandalay in an all-cash transaction. MGM MIRAGE management intends to recommend approval of the transaction to its Board of Directors, which is expected to meet tomorrow to consider the transaction. Under the proposed terms, MGM MIRAGE would pay $71.00 per share in cash…Read More

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