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Photo of Caesars Palace Caesars Palace in Las Vegas, part of the VICI Properties portfolio.

LAS VEGAS—Saying it was “not in the best interests of the company and its stockholders,” recently spun-off gaming REIT VICI Properties said Wednesday it had rejected an unsolicited merger bid from MGM Growth Properties (MGP). The proposed all-stock deal for 100% of VICI’s common shares would be valued at approximately $5.85 billion; the combination of MGP and VICI would create the largest triple-net lease REIT by enterprise value.

Paul Bubny

Paul Bubny is managing editor of Real Estate Forum and GlobeSt.com. He has been reporting on business since 1988 and on commercial real estate since 2007. He is based at ALM Real Estate Media Group's offices in New York City.

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