Business & Finance
The board of Mandalay Resort Group, a major Las Vegas casino operator, is scheduled to meet Tuesday to consider a revised buyout offer of $7.9 billion from rival MGM Mirage, which is seeking to become the world's largest casino company. After weekend discussions, MGM Mirage said the sides had agreed on "all material terms" of a deal that would pay $71 per share of Mandalay stock, up from the $68-a-share bid that was rejected late last week.
General Motors wants "a culture shift" in its operations in Europe and is preparing to transfer control over its underperforming Saab, Opel, and Vauxhall divisions to its regional headquarters in Zurich, Switzerland, the Financial Times reported. GM Europe reported a $116 million loss for the year's first quarter - almost double that of the previous year - as the three brands have lagged in standardizing their development, engineering, and production methods. The Financial Times said no immediate job cuts are anticipated when the restructuring is announced, probably next week.