Posts with tag Vegas
Posted Sep 25th 2007 2:46PM by Paul Foster
Filed under: Options, Deals, Management, Top deals, Rumors, Engagements, Private equity industry, Public or private?
MGM Mirage(NYSE:MGM) is recently up $1.78 to $87.38. Dubai World, a holding company for the Persian Gulf state, announced on 8/22/07 it will pay $2.7 billion to acquire a stake in MGM City Center, a 76-acre Las Vegas development. Dubai World will also buy 14 million shares from MGM for $84 a share and 14 million from investors. Unconfirmed chatter is circulating Dubai World will raise its tender bid.
Penn National Gaming(NYSEPENN), a diversified, multi-jurisdictional owner and operator of gaming properties, agreed to be acquired on 6/15/07 by certain funds managed by affiliates of Fortress Investment(NYSE:FIG) and Centerbridge Partners for $67 dollars a share. The deal is expected to close in mid-2008. PENN is recently trading at $58.26.
Daily M&A Update is provided by Stock Specialist Paul Foster of theflyonthewall.com
Posted Aug 7th 2007 3:09PM by Paul Foster
Filed under: Deals, Management, Financials and analyticals
MGM Mirage(NYSE:MGM) volatility Elevated on unconfirmed chatter of Kerkorian's interest in all of MGM. MGM is recently up $3.43 to $77.92 on unconfirmed chatter controlling Kirk Kerkorian will make a bid for the entire company. MGM has a market cap of $21.6 billion. Kerkorian's Tracinda announced its intention on 5/22/07 to enter negotiations with MGM to acquire Bellagio and City Center from MGM. MGM call option volume of 5,913 contracts compares to put volume of 785 contracts. MGM August & September option implied volatility of 45 is above its 26-week average of 35 according to Track Data, suggesting larger risk. Wynn Resorts (NASDAQ:WYNN) is recently up $11.46 to $118.85 after reporting better than expected EPS of .92 cents. Las Vegas Sands (NYSE:LVS) is $20 over the last week after reporting strong EPS on 8/1/07.
Archstone-Smith Trust(NYSE:ASN) volatility up into ASN pushing deal out to 10/5. ASN announced Tishman Speyer and Lehman (NYSE:LEH) $60.75 cash purchase of ASN will close on October 5th, versus previously in early September. ASN is recently at $56.66. ASN owned or had an ownership position in 344 communities, representing 86,014 units as of 3/31/07. SBSH say's "ASN announcement that it granted Tishman & LEH more time to close the transaction is a slippery slope which we believe may lead to the deal being re-priced or the $1.5 billion break up fee being paid." ASN over option implied volatility of 16 is above its 10-week average of 13 according to Track Data, suggesting larger risk.
Daily M&A Update is provided by Stock Specialist Paul Foster of theflyonthewall.com.
BloggingBuyouts is provided for informational purposes only. Nothing on the service is intended to provide personally tailored advice concerning the nature, potential, value or suitability of any particular security, portfolio or securities, transaction, investment strategy or other matter. You are solely responsible for any investment decisions that you make. The contributors who provide the content of BloggingBuyouts may, from time to time, hold positions in the securities discussed at the time of writing and they may trade for their own accounts. Such holdings will be disclosed at the time of writing. By using the site, you agree to abide to BloggingBuyouts' Terms of Use.
