1 Day
Source:
The Boston Globe
R.I. financier chairs MGM faces $18b bid
Paul Salem, chairman of MGM Resorts' board and Rhode Island financier, faces a potential takeover as People Inc. offers to buy the company for $18 billion, valuing MGM at $48.30 per share. The bid comes amid media mogul Barry Diller's interest in acquiring MGM, with Salem and other directors deciding whether to accept the sale. MGM's portfolio includes properties in Las Vegas and Massachusetts, though it has no presence in Rhode Island.
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