Baker Botts Represents MGM Growth Properties in Sale to VICI Properties
Deal Description: MGM Resorts International ("MGM Resorts" or the "Company") (NYSE: MGM) today announced that it has entered into a definitive agreement with VICI Properties Inc. ("VICI") (NYSE: VICI) and MGM Growth Properties LLC ("MGP") (NYSE: MGP) whereby VICI would redeem a majority of MGP operating partnership units held by MGM Resorts for $43 per unit, or approximately $4.4 billion in cash, and acquire 100% of the outstanding class A shares of MGP in a stock-for-stock transaction. The deal values MGP at $17.2 billion, inclusive of VICI's assumption of approximately $5.7 billion of pro rata debt.
MGP’s press release can be found here.
Baker Botts Lawyers/Office Involved:
Corporate: Michael Swidler (Partner, New York); Catherine Gallagher (Partner, Washington, D.C.); Jennifer Wu (Special Counsel, Austin); Madeline Tusa (Associate, New York)
Tax: Steve Marcus (Partner, Dallas); Josh Mandell (Partner, Dallas); Jordan Hahn (Senior Associate, Dallas)
Real Estate: Connie Simmons Taylor (Partner, Houston)
Employee Compensation and Benefits: Robin Melman (Partner, New York); Katie Birnhak (Law Clerk, New York)
Finance: Andrew Thomison (Partner, Houston)
Environmental: Danny Worrell (Senior Counsel, Austin); Katie Windle (Associate, Austin)
Labor: Christina Andersen (Special Counsel, New York)
Antitrust: Michael Bodosky (Special Counsel, Washington, D.C.)
ABOUT BAKER BOTTS L.L.P.
Baker Botts is an international law firm whose lawyers practice throughout a network of offices around the globe. Based on our experience and knowledge of our clients' industries, we are recognized as a leading firm in the energy, technology and life sciences sectors. Since 1840, we have provided creative and effective legal solutions for our clients while demonstrating an unrelenting commitment to excellence. For more information, please visit bakerbotts.com.