right now, it's trading under its book value and their cost structure needs to be improved in order to maximize its cash flow. IF a PE or HF considers to buy them out, what will be the reasonable price? Its market cap is about $4bn with debt amount of $12bn, EV is about $20bn
Kerkorian still owns 56% of the stock. His cost is probably $60 or so. He is in no position to make a bid and probably is not a seller down here. He wanted certain MGM assets a few years ago for the real estate value. I would imagine that value has taken a fairly serious beating since '07 when he had the theory.