Deadline
01 Jun 2026, 15:45 UTC · 2h ago
Barry Diller On The Move As His People Inc. Goes After MGM Resorts
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Deadline
01 Jun 2026, 15:45 UTC · 2h ago
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Story key points
3 claims · impact-rated
People Inc. (formerly IAC) has submitted a non-binding proposal to acquire control of MGM Resorts International and take the company private. — An acquisition bid to take a large public company private typically leads to a significant immediate jump in share price toward the offer price.
+0.80The proposal offers $48.30 per share in cash, valuing MGM Resorts at $18 billion. — This provides a specific price floor and represents a 10.6% premium over the most recent closing price, directly impacting the asset's valuation.
+0.60People Inc. already holds a 26% stake in MGM Resorts and intends to increase its equity control to 50.1%. — Existing ownership reduces the friction of the deal and indicates a strong long-term conviction in the asset.
+0.30Ticker attribution
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6 related stories
The company is receiving a non-binding acquisition proposal at a significant premium to its recent stock price.
The company is aggressively pursuing strategic growth and expansion via a potential acquisition of MGM Resorts.
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