MGM, IAC Buying $405 Million in Stock from Corvex ManagementWritten by: Todd Shriber

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MGM Resorts International (NYSE:MGM) and Barry Diller’s IAC/InterActiveCorp (NASDAQ:IAC) announced today they are buying nine million shares of the casino operator from Keith Meister’s Corvex Management at $45 apiece in transactions valued at $405 million. The gaming company and IAC are each buying 4.5 million shares from the hedge fund controlled by the MGM board
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