See more news releases in: Banking & Financial Services, Acquisitions, Mergers and Takeovers
Icahn Affiliates Purchasing Senior Secured Loans of Metro-Goldwyn-Mayer Inc. Outside Tender Offer at $0.50 per $1.00 in Principal Amount
NEW YORK, Oct. 27 /PRNewswire/ -- Carl Icahn announced today that his affiliated entities have today been buying Metro-Goldwyn-Mayer Inc. ("MGM") senior secured loans (the "Senior Loans") outside of their previously announced tender and put offers at a purchase price of $0.50 per $1.00 in principal amount. Mr. Icahn indicated that his affiliates had already purchased a substantial amount of Senior Loans and are seeking to acquire an aggregate of $500 million in principal amount of Senior Loans. UNLIKE THE TENDER AND PUT OFFERS, PURCHASES ARE NOT CONDITIONED ON ANY MINIMUM AMOUNT BEING ACQUIRED AND PAYMENT WILL BE MADE IMMEDIATELY. Sellers must be record holders of Senior Loans and must vote against the Spyglass Plan.
Those interested in selling their Senior Loans should call Vincent Intrieri at 212-702-4328.
SOURCE Carl Icahn
Back to top
Custom Packages
Browse our custom packages or build your own to meet your unique communications needs.
PR Newswire Membership
Fill out a PR Newswire membership form or contact us at (888) 776-0942.
Learn about PR Newswire services
Request more information about PR Newswire products and services or call us at (888) 776-0942.
Featured Video
More in These Categories
Journalists and Bloggers
Visit PR Newswire for Journalists for releases, photos, ProfNet experts, and customized feeds just for Media.
View and download archived video content distributed by MultiVu on The Digital Center.
Free Investing Newsletter from Investor Uprising!
Learn to navigate the world's financial system and profit from leading companies.
Register for Investor Uprising, the people's investment site, for a free weekly newsletter, information, education and premium research including our latest IU Confidential Report - "All That Glitters: The Ultimate Gold Report".