MI Developments, which owns 59% of the equity in Magna Entertainment Corp., announced Thursday that it will not proceed with plans to take the racetrack conglomerate private by acquiring all outstanding shares.
M. Douglas Young has been appointed lead director of MI Developments' board of directors, the company announced Sept. 2. MID is a Magna company that is seeking to purchase the stock of Magna Entertainment Corp.
Most Popular Stories
- Japan Gets a NY Filly as His First Foal
- Dortmund Drills for Sherman at Los Al
- Southwest the Next Target for Uncontested
- Finest City Entered for 2017 Debut in Santa Monica
- Uncle Lino Back to Work at Santa Anita
- Awesome Slew Stands Out in Sunshine Millions Classic
- Strong Racing Stable Has Oxley Looking Forward
- Eclipse Awards to be Televised on TVG2
- Sunshine Millions Cuts After FTBOA Withholds Payment
- First Foal by American Pharoah Born at Brookdale Farm