SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE TO
(Rule 14d-100)
Tender Offer Statement Pursuant to Section 14(d)(1) or 13(e)(1)
of the Securities Exchange Act of 1934
METRO-GOLDWYN-MAYER INC.
(Name of Subject Company (Issuer))
TRACINDA CORPORATION
KIRK KERKORIAN
(Name of Filing Persons (Offerors))
common stock, par value
$.01 per share
(Title of Class of Securities)
591610100
(CUSIP Number of Class of Securities)
Richard E. Sobelle, Esq.
Tracinda Corporation
150 Rodeo Drive, Suite 250
Beverly Hills, 90212
(310) 271-0638
Copy to:
Warren S. de Wied, Esq.
Fried, Frank, Harris, Shriver & Jacobson
One New York Plaza
New York, New York 10004
(212) 859-8000
(Name, Address and Telephone Numbers of Person Authorized
to Receive Notices and Communications on Behalf of Filing Persons)
CALCULATION OF FILING FEE
Transaction Valuation Amount of Filing Fee
-------------- -----------------
[_] Check the box if any part of the fee is offset as provided by Rule
0-11(a)(2) and identify the filing with which the offsetting fee was
previously paid. Identify the previous filing by registration statement
number, or the Form or Schedule and the date of its filing.
Amount Previously Paid: $ Filing Party:
Form or Registration Number: Date Filed:
[X] Check the box if the filing relates solely to preliminary
communications made before the commencement of a tender offer.
Check the appropriate boxes below to designate any transactions to which
the statement relates:
[X] third-party tender offer subject to Rule 14d-1.
[_] issuer tender offer subject to Rule 13e-4.
[_] going private transaction subject to Rule 13e-3.
[X] amendment to Schedule 13D under Rule 13d-2.
Check the following box if the filing is a final amendment reporting the
results of the tender offer: [_]
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
TRACINDA CORPORATION
---------- --------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |_|
(b) |_|
---------- --------------------------------------------------------------------
3 SEC USE ONLY
---------- --------------------------------------------------------------------
4 SOURCE OF FUNDS
N/A
---------- --------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) |_|
---------- --------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
NEVADA
------------------------- -------- --------------------------------------------
7 SOLE VOTING POWER
163,949,644
NUMBER OF
SHARES
-------- --------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY
-------- --------------------------------------------
9 SOLE DISPOSITIVE POWER
EACH
163,949,644
REPORTING
-------- --------------------------------------------
PERSON 10 SHARED DISPOSITIVE POWER
WITH
---------- --------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
163,949,644
---------- --------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES |_|
---------- --------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
67.0%
---------- --------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
CO
---------- --------------------------------------------------------------------
---------- --------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
KIRK KERKORIAN
---------- --------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |_|
(b) |_|
---------- --------------------------------------------------------------------
3 SEC USE ONLY
---------- --------------------------------------------------------------------
4 SOURCE OF FUNDS
N/A
---------- --------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) | |
---------- --------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
U.S.A.
------------------------- -------- --------------------------------------------
7 SOLE VOTING POWER
163,949,644
NUMBER OF
SHARES
-------- --------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
0
OWNED BY
-------- --------------------------------------------
9 SOLE DISPOSITIVE POWER
EACH
163,949,644
REPORTING
-------- --------------------------------------------
PERSON 10 SHARED DISPOSITIVE POWER
WITH 0
---------- --------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
163,949,644
---------- --------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES |_|
---------- --------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
67.0%
---------- --------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
IN
---------- --------------------------------------------------------------------
---------- --------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
250 RODEO, INC.
---------- --------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |_|
(b) |_|
---------- --------------------------------------------------------------------
3 SEC USE ONLY
---------- --------------------------------------------------------------------
4 SOURCE OF FUNDS
N/A
---------- --------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) |_|
---------- --------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
DELAWARE
------------------------- -------- --------------------------------------------
7 SOLE VOTING POWER
19,758,648
NUMBER OF
SHARES
-------- --------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
0
OWNED BY
-------- --------------------------------------------
9 SOLE DISPOSITIVE POWER
EACH
19,758,648
REPORTING
-------- --------------------------------------------
PERSON 10 SHARED DISPOSITIVE POWER
WITH 0
---------- --------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
19,758,648
---------- --------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES |_|
---------- --------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
8.1%
---------- --------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
CO
---------- --------------------------------------------------------------------
The following press release was issued by Kirk Kerkorian and Tracinda
Corporation on July 29, 2003:
2
CITIGATE SARD VERBINNEN NEWS
CONTACT: Anna Cordasco
Citigate Sard Verbinnen
212/687-8080
TRACINDA ANNOUNCES TENDER FOR MGM SHARES
-------------------------------------------------------------------------
LOS ANGELES, CA -- JULY 29, 2003 -- Kirk Kerkorian and Tracinda
Corporation today announced that they intend to make a cash tender offer
for up to 15,000,000 shares of common stock of Metro-Goldwyn-Mayer Inc.
(NYSE: MGM), at a price of $16.00 per share. The offer price represents an
approximately 26% premium over MGM's closing stock price of $12.70 on July
28, 2003. The tender offer will be subject to customary conditions for
transactions of this type. The tender offer will not be subject to any
financing condition or any other non-customary conditions.
Tracinda Corporation, of which Mr. Kerkorian is the sole shareholder,
directly owns 144,190,996 shares of MGM common stock. In addition, Tracinda
and Mr. Kerkorian own all of the shares of capital stock of 250 Rodeo Inc.,
which owns an additional 19,758,648 shares of MGM common stock. The
163,949,644 shares of MGM common stock currently owned beneficially by
Tracinda and Mr. Kerkorian represent approximately 67% of MGM's outstanding
common stock.
Of the up to 15,000,000 shares of MGM common stock sought in the
offer, Mr. Kerkorian will purchase 10,000,000 shares and Tracinda will
purchase 5,000,000 shares. The shares to be purchased pursuant to the offer
represent approximately 6% of the outstanding shares of MGM common stock,
or approximately 19% of the shares of MGM common stock not beneficially
owned by Tracinda and Mr. Kerkorian. Upon completion of the offer, Tracinda
and Mr. Kerkorian would beneficially own in the aggregate approximately
178,949,644 shares of MGM common stock, or approximately 73% of MGM's
outstanding common stock.
Mr. Kerkorian stated: "We believe that recent trading prices of MGM's
common stock do not reflect MGM's full value and that the stock represents
an attractive investment. This tender offer demonstrates our confidence in
MGM and our commitment to the company's future."
Once the tender offer is commenced, offering materials will be mailed
to MGM stockholders and filed with the Securities and Exchange Commission.
MGM stockholders are urged to read the offering materials when they become
available because they will contain important information. This offer has
not been reviewed by the Board of Directors or management of MGM. The MGM
board of directors is required by law to communicate its views regarding
the tender offer to MGM stockholders within ten business days from the date
the offer is commenced. MGM has informed Mr. Kerkorian and Tracinda that it
will not make any comment concerning this tender offer until its Board of
Directors has completed its review following commencement of the offer.
THIS DOCUMENT IS NEITHER AN OFFER TO PURCHASE NOR A SOLICITATION OF AN
OFFER TO SELL SECURITIES. KIRK KERKORIAN AND TRACINDA CORPORATION HAVE NOT
YET COMMENCED THE TENDER OFFER DESCRIBED HEREIN. THE TENDER OFFER WILL BE
MADE ONLY THROUGH AN OFFER TO PURCHASE AND RELATED LETTER OF TRANSMITTAL.
INVESTORS AND SECURITY HOLDERS ARE STRONGLY ADVISED TO READ THE TENDER
OFFER STATEMENT OF KIRK KERKORIAN AND TRACINDA CORPORATION AND THE RELATED
LETTER OF TRANSMITTAL WHEN SUCH DOCUMENTS ARE FILED AND BECOME AVAILABLE,
BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION. THE TENDER OFFER STATEMENT
WILL BE FILED BY KIRK KERKORIAN AND TRACINDA CORPORATION WITH THE
SECURITIES AND EXCHANGE COMMISSION ("SEC"). INVESTORS AND SECURITY HOLDERS
MAY OBTAIN A FREE COPY OF THIS STATEMENT (WHEN FILED AND AVAILABLE) AND
OTHER RELEVANT DOCUMENTS ON THE SEC'S WEB SITE AT: HTTP://WWW.SEC.GOV. THE
TENDER OFFER STATEMENT AND RELATED MATERIALS MAY ALSO BE OBTAINED FOR FREE
BY DIRECTING SUCH REQUESTS TO KIRK KERKORIAN AND TRACINDA CORPORATION.
THIS PRESS RELEASE CONTAINS FORWARD-LOOKING STATEMENTS. THESE STATEMENTS
ARE ESTIMATES REFLECTING THE BEST JUDGMENT OF KIRK KERKORIAN AND TRACINDA
CORPORATION BASED ON CURRENTLY AVAILABLE INFORMATION. SUCH FORWARD-LOOKING
STATEMENTS INVOLVE ACTUAL KNOWN AND UNKNOWN RISKS, UNCERTAINTIES,
CONTINGENCIES AND OTHER FACTORS THAT COULD CAUSE ACTUAL RESULTS,
PERFORMANCE OR ACHIEVEMENTS TO DIFFER MATERIALLY FROM THOSE STATED. SUCH
RISKS, UNCERTAINTIES, CONTINGENCIES AND OTHER FACTORS, MANY OF WHICH ARE
BEYOND THE CONTROL OF KIRK KERKORIAN AND TRACINDA CORPORATION, INCLUDE, BUT
ARE NOT LIMITED TO, THE SATISFACTION OF THE CONDITIONS TO CLOSING, GENERAL
ECONOMIC FACTORS AND CAPITAL MARKET CONDITIONS, AND GENERAL INDUSTRY
TRENDS. KIRK KERKORIAN AND TRACINDA CORPORATION ARE UNDER NO OBLIGATION
(AND EXPRESSLY DISCLAIM ANY SUCH OBLIGATION) TO UPDATE OR ALTER ANY
FORWARD-LOOKING STATEMENTS WHETHER AS A RESULT OF NEW INFORMATION, FUTURE
EVENTS OR OTHERWISE.
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