MGM MIRAGE and Infinity World (Cayman) L.P. Announce Updated Preliminary Results of Their Joint Tender Offer
15 Fevereiro 2008 - 7:53PM
PR Newswire (US)
LAS VEGAS, Feb. 15 /PRNewswire-FirstCall/ -- MGM MIRAGE (NYSE:MGM)
and Infinity World (Cayman) L.P., an indirect wholly owned
subsidiary of Dubai World, announced today updated preliminary
results of their joint tender offer, which expired at 12:00
midnight, New York City time, on February 14, 2008. Subsequent to
the announcement earlier today of the preliminary results of the
joint tender offer, Mellon Investor Services LLC, the depositary
for the joint tender offer, advised MGM MIRAGE and Infinity World
(Cayman) L.P. that it had failed to include in its final report of
the preliminary results of the joint tender offer an additional
7,467,169 shares tendered through Notices of Guaranteed Delivery.
Based on the updated preliminary count, subject to final
verification and conditional tenders, approximately 109,373,891
shares of MGM MIRAGE's common stock were tendered, including
approximately 26,693,134 shares which were tendered through Notices
of Guaranteed Delivery, resulting in an updated estimated proration
factor of approximately 13.7% instead of 14.7%. Any shares tendered
upon the condition of a minimum number of shares being purchased in
the joint tender offer will be deemed withdrawn in the event that
such condition is not satisfied as a result of proration. The
number of shares tendered and not withdrawn and the proration
factor are preliminary and are subject to verification. The actual
number of shares validly tendered and not withdrawn and the final
proration factor will be announced promptly following completion of
the verification process. Promptly after such announcement, the
depositary will issue payment for the shares validly tendered and
accepted under the joint tender offer and will return all other
shares tendered. About MGM MIRAGE MGM MIRAGE (NYSE:MGM), one of the
world's leading and most respected development companies with
significant holdings in gaming, hospitality and entertainment, owns
and operates 17 properties located in Nevada, Mississippi and
Michigan, and has 50% investments in four other properties in
Nevada, New Jersey, Illinois and Macau. MGM MIRAGE is developing
major casino and non-casino resorts, separately and with partners
in Las Vegas, Atlantic City, the People's Republic of China and Abu
Dhabi, U.A.E. MGM MIRAGE supports responsible gaming and has
implemented the American Gaming Association's Code of Conduct for
Responsible Gaming at its properties. MGM MIRAGE has received
numerous awards and recognitions for its industry-leading Diversity
Initiative and its community philanthropy programs. For more
information about MGM MIRAGE, please visit the company's website at
http://www.mgmmirage.com/. About Dubai World Dubai World is a major
investment holding company which wholly owns or has substantial
interest in a portfolio of businesses that includes DP World,
Jafza, Nakheel, Dubai Drydocks, Maritime City, Istithmar, Kerzner,
One & Only, Atlantis, Barney's, Island Global Yachting,
Limitless, Inchcape Shipping Services, Tejari, Technopark and
Tamweel. The Dubai World Group has more than 50,000 employees in
over 100 cities around the globe. Dubai World's iconic real estate
projects include the Nakheel's Palm developments and The World. The
group also has extensive real estate investments in the US, the UK
and South Africa, unique hospitality destinations in every corner
of the world, and is a leading global port operator. In the last
five years, Dubai World has developed 80,000 luxury residential
villas and apartments and approximately three million square feet
of retail space. Forward-Looking Statement Statements in this
release which are not historical facts are "forward looking"
statements and "safe harbor statements" under the Private
Securities Litigation Reform Act of 1995 that involve risks and/or
uncertainties, including risks and/or uncertainties as described in
the company's public filings with the Securities and Exchange
Commission. DATASOURCE: MGM MIRAGE CONTACT: Investment Community,
Dan D'Arrigo, EVP & Chief Financial Officer, +1-702- 693-8895;
or Media, Alan M. Feldman, Senior Vice President of Public Affairs,
+1-702-650-6947, Web site: http://www.mgmmirage.com/
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