Wembley Agrees MGM Mirage Takeover - 2004-01-27
Las Vegas-based MGM Mirage stated on Tuesday it would purchase UK gaming firm Wembley Plc for approximately $493 million, as the U.S. casino operator jockeys for position ahead of an expected easing of Britain's gambling rules.
The move by MGM Mirage -- owner of The Mirage, Treasure-Island and other mega-resorts -- sent Wembley's shares soaring 23 percent.
Wembley is embroiled in a legal wrangle after two executives were indicted on charges of bribing officials in the U.S. state of Rhode Island.
Read the full story at MSN Money