SAN DIEGO, Aug. 4, 2021 /PRNewswire/ -- Shareholder rights law firm Johnson Fistel, LLP has launched an investigation into whether the board members of MGM Growth, Inc. (NYSE: MGP) ("MGM" or the "Company") breached their fiduciary duties in connection with the proposed sale of the Company to VICI Properties, Inc. (NYSE: VICI) ("VICI").
On August 4, 2021, MGP announced that it had agreed to merge with VICI in an all-stock transaction. Under the terms of the agreement, MGP stockholders will receive 1.366 newly issued shares of VICI common stock for each share of MGP class A stock owned. MCP shareholders will be subject to the future price fluctuation of VICI's stock price.
The investigation concerns whether the MGM board failed to satisfy its duties to the Company shareholders, including whether the board adequately pursued alternatives to the acquisition and whether the board obtained the best price possible for MGM shares of common stock.
If you are a shareholder of MGM and believe the proposed buyout price is too low or you're interested in learning more about the investigation, please contact lead analyst Jim Baker ([email protected]) at 619-814-4471. If emailing, please include a phone number.
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SOURCE Johnson Fistel, LLP