Activist investor Land and Buildings has engaged proxy and PR support as it pushes a slate of four director nominees for the MGM Resorts International board and a split of the company.
New York-based Sloane & Company is providing financial PR counsel to L&B, a Stamford, Conn.-based hedge fund focused on the real estate sector. L&B wants MGM, the top Las Vegas casino operator, to split into a real estate investment trust and spin off a hotel/lodging company. L&B, arguing that MGM is undervalued and its board missing opportunities, is using Innisfree M&A for proxy solicitation.
Clark Dumont heads corporate comms. for MGM Resorts, while Sarah Rogers is VP of IR. MGM told Bloomberg earlier this month that it agrees the company is undervalued, adding it would review the L&B slate, although its preliminary proxy unveiled three days later did not include any L&B nominees. MGM in an SEC filing said its board "strongly urges" investors not to sign or turn the L&B proxy card.
Sloane & Co. CEO Elliot Sloane and managing director Dan Zacchei advise L&B.
L&B on April 1 released a public letter to MGM’s lead independent director, urging formation of a special committee and engagement of an independent financial advisor to evaluate options.
Teneo is handling the initial public offering of CVC Capital Partners, one of Europe’s largest private equity firms with nearly $200B in assets under management.
Brunswick Group represents Endeavor Group Holdings as it agrees to go private via its acquisition by Silver Lake technology investment firm, which is handled by Edelman Smithfield.
Tod Donhauser, a nine-year veteran of Edelman, has joined H/Advisors Abernathy as managing director and head of its San Francisco office.
Intelligent Group Ltd, a Hong Kong-based financial PR firm, has priced its initial public offering of 1.9M shares at $4, which is the low end of the $4 to $5 range.
Kekst CNC represents Grant Thornton as it sells a majority stake in its US arm to New Mountain Capital, which relies on Goldin Solutions, in what is billed as the largest PE investment in the accounting and advisory sector.
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