MGM Hands Board Seat to Activist Hedge Fund Corvex’s Meister

(Reuters) MGM Resorts International has struck a deal with hedge fund Corvex Management’s founder, Keith Meister, to give him a board seat, one week after a rival activist investor was seen building a position in the casino operator. Corvex owns roughly 3 percent of MGM’s stock. Meister will join the board on Friday, expanding its size by one to 13 members, MGM said in a statement released late on Thursday.

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