Investment idea generation.

The Cleaner

Glass Lewis Backing Land and Buildings at MGM

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Glass Lewis recommended that MGM shareholders vote the GOLD proxy card to elect Land and Buildings nominee Matthew Hart (just one nominee though), saying:

  • “In light of the Company's prevalent shareholder return underperformance and undervaluation relative to peers, as well as lingering concerns with respect to capital allocation, financial discipline, accountability and overall boardroom culture, we believe the Dissident has established a case for change at the board level.”
  • “In our view, L&B has presented a compelling opportunity for MGM to unlock substantial value through a potential REIT conversion and additional measures which would further de-lever the balance sheet.”