Additional Proxy Soliciting Materials - Non-management (definitive) (dfan14a)
May 15 2015 - 5:26PM
Edgar (US Regulatory)
SCHEDULE 14A
Proxy Statement Pursuant to Section 14(a)
of the Securities Exchange Act of 1934 (Amendment
No. __)
Filed by the Registrant [ ]
Filed by a Party other than the Registrant
[x]
Check the appropriate box:
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Preliminary Proxy Statement |
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Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2)) |
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Definitive Proxy Statement |
[X] |
Definitive Additional Materials |
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Soliciting Material Under Rule 14a-12 |
MGM Resorts International
(Name of Registrant as Specified In Its Charter)
Land & Buildings Investment Management,
LLC
Land & Buildings Capital Growth Fund,
L.P.
Jonathan Litt
Matthew J. Hart
Richard Kincaid
Marc A. Weisman
(Name of Person(s) Filing Proxy Statement, if
other than the Registrant)
Payment of Filing Fee (check the appropriate
box):
[X] |
No fee required. |
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Fee computed on table below per Exchange Act Rule 14a-6(i)(4) and 0-11. |
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Rule 0-11 (set forth the amount on which the filing fee is calculated and state how it was determined): |
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Fee paid previously with preliminary materials. |
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Check box if any part of the fee is offset as provided by Exchange Act Rule 0-11(a)(2) and identify the |
filing for which the offsetting fee was paid previously. Identify the previous filing by registration statement number, or the Form or Schedule and the date of its filing. |
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On May 15, 2015, Land & Buildings Investment Management,
LLC and its affiliates (collectively, "Land & Buildings") issued a press release (the "Press Release")
announcing that Glass, Lewis & Co., a leading independent proxy voting advisory firm, recommended that shareholders of MGM
Resorts International ("MGM") vote to elect Land & Buildings nominee Matthew J. Hart as a member of MGM's board of
directors. A copy of the Press Release is filed herewith as Exhibit 1.
Also on May 15, 2015, Land & Buildings posted the following
reference to the Press Release to the home page and "Press Releases" page of http://www.RestoreMGM.com:
Glass Lewis Recommends MGM Shareholders Endorse Land and Buildings Nominee |
May 15, 2015 |
Exhibit 1
Glass
Lewis Recommends MGM sharEHOLDERS endorse Land and Buildings Nominee
Recommends MGM Shareholders Vote on the
GOLD Proxy Card to Elect Land and Buildings Nominee Matthew Hart
Stamford, CT— (May 15, 2015)
– Land and Buildings Investment Management, LLC (“Land and Buildings”) today announced that Glass, Lewis &
Co., a leading independent proxy voting advisory firm, has recommended that shareholders of MGM Resorts International (NYSE:MGM)
(“MGM” or the “Company”) vote on the GOLD proxy card to elect nominee Matthew Hart, saying:
- “In light of the Company's prevalent
shareholder return underperformance and undervaluation relative to peers, as well as lingering concerns with respect to capital
allocation, financial discipline, accountability and overall boardroom culture, we believe the Dissident has established a case
for change at the board level.”
- “In our view, L&B has presented
a compelling opportunity for MGM to unlock substantial value through a potential REIT conversion and additional measures which
would further de-lever the balance sheet.”
- “…we
believe further renewal of the MGM board will reinvigorate the boardroom culture, add a fresh perspective and provide greater assurance
that all strategic alternatives are rigorously considered.”
- “We believe Mr. Hart would bring
a fresh perspective and provide greater assurance that all opportunities to enhance value, including a REIT conversion, are properly
evaluated by directors. We also believe his addition to the board would reinforce the Company's capital allocation discipline and
bring valuable insights for MGM's operations and corporate structure going forward.”
Jonathan Litt, Founder and CIO of Land
and Buildings, said, “The fact that Glass Lewis is endorsing one of our nominees sends a clear message that change is needed
in the MGM boardroom in order to deliver value for all shareholders. We are extremely gratified that Glass Lewis has agreed with
so many of the points we have brought to light throughout this campaign, and encourage shareholders to follow the Glass Lewis recommendation
and vote on the Gold proxy card.”
To follow the Glass Lewis recommendation,
MGM shareholders do not vote on the Company’s white proxy card, and vote on the GOLD proxy card to elect nominee
Matthew Hart.
For additional information, please visit www.RestoreMGM.com.
About Land and Buildings:
Land and Buildings is a registered investment
manager specializing in publicly traded real estate and real estate related securities. Land and Buildings seeks to deliver attractive
risk adjusted returns by opportunistically investing in securities of global real estate and real estate related companies, leveraging
its investment professionals' deep experience, research expertise and industry relationships.
Investor Contact:
Scott Winter / Jonathan Salzberger
Innisfree M&A Incorporated
212-750-5833
Media Contact:
Elliot Sloane / Dan Zacchei
Sloane & Company
212-486-9500
Esloane@sloanepr.com or
Dzacchei@sloanepr.com
LAND & BUILDINGS
CAPITAL GROWTH FUND, L.P., LAND & BUILDINGS INVESTMENT MANAGEMENT, LLC AND JONATHAN LITT (COLLECTIVELY, "LAND & BUILDINGS")
AND MATTHEW J. HART, RICHARD KINCAID AND MARC A. WEISMAN (TOGETHER WITH LAND & BUILDINGS, THE "PARTICIPANTS") FILED
WITH THE SECURITIES AND EXCHANGE COMMISSION (THE "SEC") ON APRIL 16, 2015 A DEFINITIVE PROXY STATEMENT AND ACCOMPANYING
FORM OF PROXY CARD TO BE USED IN CONNECTION WITH THE PARTICIPANTS' SOLICITATION OF PROXIES FROM THE STOCKHOLDERS OF MGM RESORTS
INTERNATIONAL (THE "COMPANY") FOR USE AT THE COMPANY'S 2015 ANNUAL MEETING OF STOCKHOLDERS (THE "PROXY SOLICITATION").
ALL STOCKHOLDERS OF THE COMPANY ARE ADVISED TO READ THE DEFINITIVE PROXY STATEMENT AND OTHER DOCUMENTS RELATED TO THE PROXY SOLICITATION
BECAUSE THEY CONTAIN IMPORTANT INFORMATION, INCLUDING ADDITIONAL INFORMATION RELATED TO THE PARTICIPANTS. THE DEFINITIVE PROXY
STATEMENT AND AN ACCOMPANYING PROXY CARD HAVE BEEN FURNISHED TO SOME OR ALL OF THE COMPANY'S STOCKHOLDERS AND ARE, ALONG WITH
OTHER RELEVANT DOCUMENTS, AVAILABLE AT NO CHARGE ON THE SEC'S WEBSITE AT HTTP://WWW.SEC.GOV/.
IN ADDITION, INNISFREE M&A INCORPORATED, LAND & BUILDING'S PROXY SOLICITOR, WILL PROVIDE COPIES OF THE DEFINITIVE PROXY
STATEMENT AND ACCOMPANYING PROXY CARD WITHOUT CHARGE UPON REQUEST.
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