January 10, 2019 / 3:48 PM / 12 days ago

Starboard building stake in MGM Resorts-sources

Jan 10 (Reuters) - Activist hedge fund Starboard Value is building a stake in MGM Resorts, two people familiar with the matter said on Thursday.

MGM Resorts is aware of Starboard’s investment, the sources said, asking not to be identified because the matter is confidential. Starboard’s strategy for targeting MGM could not be immediately established.

“The Company does not comment on market rumors”, MGM Resorts said in a statement. Starboard did not respond to a request for comment.

Reporting by Svea Herbst-Bayliss and Greg Roumeliotis Editing by Chizu Nomiyama

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