The 6/20/07 WSJ reports that Kerkorian will withdraw his plans to take over Bellagio and CityCenter. Since the original announcement, MGM's share price is up 37%.
Was this only a ploy by Kerkorian and MGM to get the stock moving? Regardless, imo, MGM is still in play to be taken private.
An announcement may also be made today regarding a joint-venture between MGM and Kerzner Inetrnational to develop a multi-billion dollar casino resort on the 40 acres at the Strip and Sahara.
Subscribers to the WSJ can read the story at:
Kerkorian's MGM Plans in Doubt