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StumbleMGM Grand, Mirage agree to $6.4 billion merger
Monday, March 6, 2000 | 7:48 a.m.
Mirage Resorts Inc. and MGM Grand Inc. of Las Vegas said today they've agreed on a merger in which MGM will acquire Mirage for $21 per share in cash. That's up substantially from MGM Grand's initial $17 per share offer.
The equity portion of today's deal is worth $4.4 billion. MGM Grand is assuming $2 billion in Mirage debt, making the total value of the deal $6.4 billion.
There was no immediate word this morning on the future role of Mirage Resorts CEO and Chairman Steve Wynn in the combined company
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