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Final results, proration factor announced in tender offer for MGM Mirage shares
By Lisa Kerner
Charlotte, N.C., Feb. 26 - MGM Mirage released the final results of its joint tender offer with Dubai World subsidiary Infinity World (Cayman) LP that ended Feb. 14.
According to the final tabulation by Mellon Investor Services LLC, 99,125,707 shares of common stock of MGM Mirage were properly tendered and not withdrawn, resulting in a proration factor of about 15.1%.
Mellon, the depositary for the joint tender offer, will promptly issue payment for the shares validly tendered, MGM Mirage said in a news release.
In January, MGM Mirage and Dubai World increased their offer to buy MGM Mirage shares to 15 million from 10 million shares. The tender price was also increased to $80 per share, from a range of $75 to $80 per share.
Dubai World planned to invest some $5 billion in the Las Vegas gaming company under a definitive agreement signed by the companies. The investment, part of a long-term strategic relationship, includes a $2.7 billion investment in the Las Vegas development project CityCenter and up to $2.4 billion in purchases of MGM Mirage common stock.
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