The chief executive officer of MI Developments said Tuesday that the company's proposal to purchase the stock it presently does not own in Magna Entertainment and take it private will not affect the racetrack operating company's strategic business plan.
A business associated with Magna Entertainment founder and chairman Frank Stronach has increased its ownership of the racing conglomerate stock to 5.8%.
Most Popular Stories
- Terranovas Seek Derby Success With El Kabeir
- U.S. Alleges Conspiracy at Penn National
- RMTC Nears Recommendation on Calming Agent
- ROAP Seeks Regulation of 'Program Trainers'
- Luck of the Kitten Starts '15 in Transylvania
- Is Mubtaahij a Major Derby Contender?
- Sherman: Ascot Could Be Rough on 'Chrome'
- El Kabeir Fires Bullet Work at Belmont
- Keeneland Plans Wide Live Broadcast Coverage
- Untapable Heads Asmussen Workers at Oaklawn