MGM rolls on without Land & Buildings
MGM shareholders voted to re-elect all of the company's existing (11-person) board of directors at its annual meeting yesterday.
Land and Buildings was putting up a proxy battle in an effort to get MGM to convert the company into a real estate investment trust. But it abandoned the battle a couple weeks ago, saying that MGM was making marked progress on its own.
At the shareholder meeting yesterday, MGM noted that it had been looking at the REIT structure since 2007.