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LAS VEGAS, Feb. 14, 2022 /PRNewswire/ — MGM Resorts International (the “Company” or “MGM Resorts”) (NYSE: MGM) and IAC (NASDAQ: IAC) today announced that they will each purchase 4.5 million shares of MGM Resorts’ common stock from Corvex Management LP (“Corvex”) at $45 per share, for a total aggregate amount of $405 million, or $202.5 million each. “Today’s announcement is a testament to the confidence we have in the long-term trajectory of our business and reflects the commitment we have to our capital allocation strategy, which includes returning cash to shareholders and maintaining a strong balance sheet,” said Jonathan Halkyard, Chief Financial Officer and Treasurer of MGM Resorts International.
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