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

InterActiveCorp (IAC), the largest shareholder in MGM Resorts International, has pledged to invest up to $1bn (£736m) 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…

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