NYSE:MGMHospitality
New IAC Voting Pact Reshapes MGM Governance And Valuation Debate
MGM Resorts International and its largest shareholder, IAC Inc. and Barry Diller, have entered into a new voting agreement.
The agreement limits unilateral voting rights above a specified ownership threshold and guarantees two board seats for IAC.
The arrangement clarifies long term governance and IAC's influence over NYSE:MGM.
MGM Resorts International (NYSE:MGM) now has a clearer governance framework with IAC, at a time when the shares trade around $37.1. The stock has returned 24.0%...