MI Developments seeks to take racetrack arm private

Newswire

TORONTO, July 13 (Reuters) - MI Developments , a real estate development company spun off from Magna International , said on Tuesday it plans to buy all the outstanding class A shares of Magna Entertainment in a cash and stock deal to take the racetrack operator private.

MI Developments said in a release that it would pay $1.05 a share in cash plus 0.2258 of a Class A subordinate voting share for each ...

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