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Amazon Said To Be Near Deal To Buy MGM For $9 Billion – Report
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deadline.comAmazon is said to be near to clinching a deal to buy MGM for close to $9 billion following a spate of reports last week that the two sides were seriously talking about a combination.An agreement could be announced as early as this week, the Wall Street Journal reported Monday, if talks don’t break down.
CNBC said it could come as early as Tuesday.MGM was valued around $5.5 billion including debt last last year. It trades on the OTC market and its stock price has soared in recent days, from about $105 a share in mid-May, before talks were reported, to $140 a share this morning.The studio is owned by a group of investors led by Anchorage Capital many of whom have held their stakes since MGM emerged from bankruptcy in 2012.
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