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Barry Diller Moves to Acquire MGM Resorts
Media mogul Barry Diller’s company, People Inc., has submitted an offer to acquire control of MGM Resorts, valuing the casino operator at more than $18 billion, including its existing debt. The proposal would see People Inc., formerly known as IAC, purchase the 73.9% of MGM it does not already own at $48.30 per share in cash. The offer represents a premium of roughly 10.6% above MGM’s closing price last Friday and about 30% above its 90-day average volume-weighted price. Currently, People […] The post Barry Diller Moves to Acquire MGM Resorts appeared first on World Casino News.
Media mogul Barry Diller’s company, People Inc., has submitted an offer to acquire control of MGM Resorts, valuing the casino operator at more than $18 billion, including its existing debt. The proposal would see People Inc., formerly known as IAC, purchase the 73.9% of MGM it does not already own at $48.30 per share in cash. The offer represents a premium of roughly 10.6% above MGM’s closing price last Friday and about 30% above its 90-day average volume-weighted price. Currently, People […]
The post Barry Diller Moves to Acquire MGM Resorts appeared first on World Casino News.
