Deals
Starboard Builds a Stake in MGM Resorts and Will Seek Changes
- Casino owner has announced $300 million cost-cutting plan
- MGM investors also include Corvex Management, Canyon Capital
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Starboard Value, the activist fund run by Jeff Smith, has built a position in MGM Resorts International and plans to push for changes at the Las Vegas-based casino owner.
The New York hedge fund has built a small position in the company over the last couple months, said the people, asking not to be identified because the matter is private. The size of Starboard’s position and the type of changes it’s seeking couldn’t be immediately learned.