MGM’s biggest shareholder pledges up to $1bn for new partial cash offer for Entain

IAC sends non-binding letter of intent to MGM pledging huge investment with new bid imminent

MGM Resorts International's largest shareholder InterActiveCorp (IAC) has pledged to invest up to $1bn to help fund a new partial cash offer for Entain after previous bids were unsuccessful. Details of the investment pledge were revealed late on Friday, with MGM confirming a non-binding letter of intent from IAC indicating its support for the “compelling”…

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