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MGM, Dubai World to make tender offer for 10 mln MGM shares

Wed Jan 9, 2008 6:58am EST

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Jan 9 (Reuters) - MGM Mirage (MGM.N) and shareholder Dubai World said they plan to make a cash tender offer for up to 10 million shares of MGM's stock at a price of not less than $75 a share and not greater than $80 a share.

Investor Kirk Kerkorian's Tracinda Corp, owner of about 52.4 percent of MGM's outstanding shares, has informed the company that it will not tender any of its shares, the world's No. 2 casino operator said in a regulatory filing. (Reporting by Supantha Mukherjee in Bangalore; Editing by Pratish Narayanan)



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