Aaron Cowen pitches MGM: a floor from Diller's bid plus a free option on Japan and Dubai
Barry Diller's $48 bid protects the downside; hidden assets in Osaka (2030 license) and 300k sq ft of vacant space in Dubai prefabricated for a casino. Sum of the parts is worth $100-150 versus the current price.
Aaron Cowen pitches MGM: a floor from Diller's bid plus a free option on Japan and Dubai
Barry Diller's $48 bid protects the downside; hidden assets in Osaka (2030 license) and 300k sq ft of vacant space in Dubai prefabricated for a casino. Sum of the parts is worth $100-150 versus the current price.
"I'm going to pitch to you MGM... Barry now owns 26% of the company. Yesterday he actually bid for the company. I would not sell my shares to him. MGM has two hidden assets. So you…"