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In reply to the discussion: Zelenskyy rejects Trump's proposal that Ukraine could swap territories with Russia [View all]marble falls
(67,333 posts)... and got skunked so bad, he sued Griffin. And got nothing but his own tears of regret.
https://www.upi.com/Archives/1988/11/15/Griffin-buys-Resorts-Trump-to-get-Taj-Mahal/3242595573200/
ATLANTIC CITY, N.J. -- Entertainer Merv Griffin took control of Resorts International Inc. Tuesday, ending eight months of battles and negotiations with real estate developer Donald Trump that left the casino company witha massive $339.8 million third-quarter loss.
Thomas Gallagher, an attorney for the former talk show host and game show syndicator, said The Griffin Co. purchased Trump's Class B stock in Resorts for approximately $96.2 million. Griffin also acquired the Class A stock and the remaining Class B stock of the public stockholders of Resorts for $36 a share.
The day-long transaction was the first step in consummating the complex Griffin-Trump deal, Gallagher said.
When the second phase of the deal closes Wednesday, Trump Taj Mahal Associates Limited Partnership will acquire the Taj Mahal Casino Hotel from Resorts for about $273 million. A Trump affiliate will receive about $63 million for terminating its management agreement with Resorts.
'I am thrilled that we have finally completed this enormously complex deal,' Griffin said in a prepared statement Tuesday. 'We can now get to work revitalizing Resort's hotels and casinos in Atlantic City and Paradise Island (in the Bahamas).'
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