Board of Directors for Las Vegas casino operator to purchase 20 million shares of common stock.
Wednesday 28th May 2008
Las Vegas-based MGM Mirage, one of the world’s largest operators of casinos, has announced that its board has approved a new stock repurchase programme authorizing the company buy back up to 20 million shares of common stock.
The firm also announced that it had repurchased 1.27 million shares over the current quarter, leaving 1.36 million shares outstanding under the previous share repurchase programme that was approved in December of last year.
According to analysts, acquisitions such as these can be made through open market purchases, privately negotiated third-party transactions or other deals including tender offers as market conditions warrant.
Las Vegas-based MGM Mirage, one of the world’s largest operators of casinos, has announced that its board has approved a new stock repurchase programme authorizing the company buy back up to 20 million shares of common stock.