MGM Resorts calls shareholder proposal seriously flawed

April 13, 2015 8:47 PM

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MGM Resorts International is urging shareholders of the casino-resort company to ignore an investment firm's proposal suggesting the company be converted into a real estate investment trust to boost stock value.

The company filed its definitive proxy statement with shareholders on Monday ahead of its May 28 annual meeting encouraging votes for MGM's incumbent board nominees and not for those nominated by investment firm Land and Buildings.

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