Deal Description: MGM Resorts International ("MGM Resorts" or the "Company") (NYSE: MGM) today announced that it has entered into a definitive agreement with VICI Properties Inc. ("VICI") (NYSE: VICI) and MGM Growth Properties LLC ("MGP") (NYSE: MGP) whereby VICI would redeem a majority of MGP operating partnership units held by MGM Resorts for $43 per unit, or approximately $4.4 billion in cash, and acquire 100% of the outstanding class A shares of MGP in a stock-for-stock transaction. The deal values MGP at $17.2 billion, inclusive of VICI's assumption of approximately $5.7 billion of pro rata debt.
MGP’s press release can be found here.
Baker Botts Lawyers/Office Involved:
Corporate: Michael Swidler (Partner, New York); Catherine Gallagher (Partner, Washington, D.C.); Jennifer Wu (Special Counsel, Austin); Madeline Tusa (Associate, New York)
Tax: Steve Marcus (Partner, Dallas); Josh Mandell (Partner, Dallas); Jordan Hahn (Senior Associate, Dallas)
Real Estate: Connie Simmons Taylor (Partner, Houston)
Employee Compensation and Benefits: Robin Melman (Partner, New York); Katie Birnhak (Law Clerk, New York)
Finance: Andrew Thomison (Partner, Houston)
Environmental: Danny Worrell (Senior Counsel, Austin); Katie Windle (Associate, Austin)
Labor: Christina Andersen (Special Counsel, New York)
Antitrust: Michael Bodosky (Special Counsel, Washington, D.C.)
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