DEALS: Trump Meets His Match

Trump Meets His Match

Few of Wall Street's handicappers seriously expected TV Tycoon Merv Griffin to win when he challenged Manhattan Developer Donald Trump for control of Atlantic City's Resorts International hotel and casino. But last week Griffin surprised anyone who doubted his dealmaking acumen. Settling a month-long wrangle, Trump agreed to go along with Griffin's offer to buy the company's outstanding stock, including the developer's majority share, for an estimated $300 million. In exchange, Griffin will sell Resorts' nearly completed Taj Mahal hotel-casino, other real estate and its fleet of helicopters to Trump, assets that the developer says are primarily what he wanted. While...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!