Deals
MGM Film Studio Adopts Takeover Defense as Owners Weigh Options
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MGM Holdings Inc., maker of the James Bond movies, approved a stock buyback and adopted a shareholder rights plan to thwart any unfriendly takeovers as it considers ways to maximize shareholder value.
The studio, which filed for an initial public offering last year, is weighing options amid the box-office success of Bond films and “The Hobbit: An Unexpected Journey,” as well as a recovery in home entertainment. The actions aren’t in response to any known buyout effort, the Beverly Hills, California-based company, owner of Metro-Goldwyn-Mayer, said today in a statement.