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LAS VEGAS (AP) - Casino giant MGM Mirage Inc. said Tuesday that its board has formed an independent committee to study Tracinda Corp.'s move to buy two MGM Mirage properties and perhaps restructure the company.
The board committee, comprised of non-management directors not affiliated with Tracinda, will study the matter and consider strategic alternatives, the company said. Tracinda, the investment arm of billionaire Kirk Kerkorian, 89, owns 56 percent of MGM Mirage shares.
"There can be no assurances that this process will result in any specific transactions," the company said in a statement.
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