One of Rhode Island’s most prominent businessmen has been thrust into the spotlight as media mogul Barry Diller pursues an $18 billion bid for casino giant MGM Resorts.
The offer places Paul Salem, the Rhode Island financier who chairs MGM’s board, at the center of what could become one of the year’s biggest corporate takeover battles. Salem and his fellow directors will ultimately decide whether the casino giant remains independent or accepts a sale.
People Inc. already owns 26 percent of MGM Resorts, but last week offered to buy the rest of the company for $48.30 a share, valuing MGM at about $18 billion, according to The New York Times.
