NEW YORK, Aug. 05, 2021 (GLOBE NEWSWIRE) -- Abraham, Fruchter & Twersky, LLP (www.aftlaw.com), a nationally recognized law firm that focuses on protecting investors’ rights, is investigating whether the board of directors of MGM Growth Properties LLC (“MGP” or the “Company”) (NYSE:MGP), or any other person or company, breached its fiduciary duties or violated any laws in connection with the company’s proposed acquisition by VICI Properties Inc. (“VICI”) (NYSE: VICI).
On August 4, 2021, MGP announced that it had entered into a definitive agreement with VICI, pursuant to which MGM Resorts International, which controls the operations of MGP, will receive $43 per unit, or approximately $4.4 billion in cash. In contrast public shareholders of MGP are set to receive 1.366 shares of VICI stock valued at $43.00 per share but currently worth less than $42.00 per share based upon VICI’s current trading price of approximately $30.50 per share. In addition, public shareholders of MGP will suffer a decline in the amount of their cash dividends, currently $2.06 per share per year, to approximately $1.80 based upon VICI’s current annual $1.32 per share dividend.
Abraham, Fruchter & Twersky, LLP is investigating whether MGP’s board of directors oversaw an unfair process or agreed to receive inadequate merger consideration from VICI. Accordingly, the firm is investigating all aspects of the proposed acquisition in order to achieve the best result possible for MGP’s stockholders.
If you own shares of MGP common stock and are concerned about the proposed merger, or you are interested in learning more about the investigation or your legal rights and remedies, please contact Jeffrey S. Abraham or Michael J. Klein by email at jabraham@aftlaw.com and mklein@aftlaw.com, or telephone at (212) 279-5050. There is no cost or obligation to you.
Abraham, Fruchter & Twersky, LLP (www.aftlaw.com), is a law firm based in New York and maintaining an office in California. Abraham, Fruchter & Twersky, LLP has extensive experience in litigating on behalf of investors. The firm has been ranked among the leading class action law firms in terms of recoveries achieved for shareholders, recently obtaining approval of a $48,750,000 settlement in In re Terraform Global Securities Litigation, No. 1:16-cv-07967 (S.D.N.Y.), representing as much as 75% of likely recoverable damages.
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If you have any questions about this Notice, the action, your rights or your interests, please contact:
Jeffrey S. Abraham, Esq.
Michael J. Klein, Esq.
Abraham, Fruchter & Twersky, LLP
One Penn Plaza, Suite 2805
New York, New York 10119
Tel: (212) 279-5050, Ext. 1601 or 1608
Fax: (212) 279-3655
Email: JAbraham@aftlaw.com
MKlein@aftlaw.com