MGM/UA Accepts Pathe Bid: The board of...

MGM/UA Accepts Pathe Bid: The board of MGM/UA Communications Co., up for sale for two years, accepted Pathe Communication’s $1.3-billion buyout offer, paving the way for yet another sale of a U.S. studio to a foreign owner. Pathe, controlled by Italian financier Giancarlo Parretti, is likely to take ownership of the venerable studio by Friday. It marks a big victory for Parretti, whose ability to secure financing to complete the deal was in doubt ever since an initial agreement was announced in March. MGM/UA is controlled by financier Kirk Kerkorian.