{"id":34849,"date":"2015-04-21T08:53:18","date_gmt":"2015-04-21T12:53:18","guid":{"rendered":"https:\/\/cablemanpro.com\/wallstreetpr\/?p=34849"},"modified":"2015-04-21T08:53:18","modified_gmt":"2015-04-21T12:53:18","slug":"mgm-resorts-international-nysemgm-defends-itself-in-investor-presentation","status":"publish","type":"post","link":"https:\/\/cablemanpro.com\/wallstreetpr\/mgm-resorts-international-nysemgm-defends-itself-in-investor-presentation-34849","title":{"rendered":"MGM Resorts International (NYSE:MGM) Defends Itself In Investor Presentation"},"content":{"rendered":"<p style=\"text-align: justify;\"><strong>MGM Resorts International (NYSE:MGM)<\/strong> went on the defensive against an investor proposal to convert the company into a real estate trust that will be based on investments for boosting the firm&#8217;s value.<\/p>\n<p style=\"text-align: justify;\">The company through its shareholder representation announced its call for a vote that will most likely be held in May at the 28<sup>th<\/sup> general meeting. MGMs board members will be expected to vote on a mandatory basis in a bid to enforce the company\u2019s defense.<\/p>\n<p style=\"text-align: justify;\">The land and buildings company also tossed in an offensive. The agency called up more shareholders to vote against for the new real estate trust proposal. The group of investors also wants the investment trust to venture out and form a lodging corporation from MGM\u2019s current hotels. The Trust move is expected raise the stockholder value.<\/p>\n<p style=\"text-align: justify;\">MGM has an added advantage because Land and Buildings has below 1% shares owing in the resorts company. MGN challenged the investor proposal through a filling to the securities exchange commission. The company claimed to have gone through the proposal and after a lot of study on the issue, the decided that it was unsound.<\/p>\n<p style=\"text-align: justify;\">Land and Buildings investors expressed the disappointment with GM&#8217;s lack of cooperation even after they hired a real estate advisor. The investors also claimed that the new plan could raise MGM&#8217;s shares up to a range of $33 to $35. Currently, the share valuation is below $24. The founder of Land and buildings, Jonathan Litt said that they would take pride in achieving a stock price worth $33 without the need to change to a REIT. Litt\u2019s firm also tried to pull off the same business proposal with <strong>Las Vegas Sands Corp. (NYSE:LVS)<\/strong> but the company owners declined the proposal.<\/p>\n<p style=\"text-align: justify;\">MGM plans to continue with the current strategies with a few minor tweaks to maintain or improve profitability. Land and Buildings investors stand a very minimal chance of overruling the voted the annual general meeting that will be held in May.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>MGM Resorts International (NYSE:MGM) went on the defensive against an investor proposal to convert the company into a real estate trust that will be based [&hellip;]<\/p>\n","protected":false},"author":32,"featured_media":15937,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"twitter_2902945987_2902945987":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[2236],"tags":[2352,4052,985,974],"stock_ticker":[],"class_list":["post-34849","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-las-vegas-sands-corp-nyselvs","tag-mgm-resorts-international-nysemgm","tag-nyselvs","tag-nysemgm","entry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.9 - 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