(Read more on the debt and equity markets.)

LAS VEGAS-MGM Mirage and Dubai World said Wednesday they will make a joint Dutch tender offer for up to 10,000,000 shares of common stock of MGM Mirage. The offer price, which could range from $75 to $80 per share, is between 7.2% and 14.3% higher than Tuesday’s closing stock price of $69.98. Share rose 5.44% on Wednesday to close at $73.79 on above-average volume.

The acquisition goal represents 3.4% of total shares and 8.3% of free float, which is the number of unrestricted shares not held by large owners like Kirk Kerkorian (Tracinda Corp.), who controls 52.4% (153.8 million) of MGM’s outstanding shares. Kerkorian in December sold Dubai World five million shares of MGM stock via his charity, the Lincy Foundation, but has said he will not tender any shares as part of this upcoming offering.

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