People Inc Drops $18B Bid to Take MGM Resorts Private
Barry Diller’s People Inc has withdrawn its proposal to acquire MGM Resorts International and take the casino operator private, ending negotiations that had continued for several months. People Inc submitted the proposal on June 1, offering $48.30 in cash for each MGM share covered by the transaction. The deal valued MGM Resorts at more than $18 billion, including debt. People already owns roughly 27% of the casino company, making it one of MGM’s largest shareholders. MGM shares closed regular Wednesday […] The post People Inc Drops $18B Bid to Take MGM Resorts Private appeared first on World Casino News.
Barry Diller’s People Inc has withdrawn its proposal to acquire MGM Resorts International and take the casino operator private, ending negotiations that had continued for several months. People Inc submitted the proposal on June 1, offering $48.30 in cash for each MGM share covered by the transaction. The deal valued MGM Resorts at more than $18 billion, including debt. People already owns roughly 27% of the casino company, making it one of MGM’s largest shareholders. MGM shares closed regular Wednesday […]
The post People Inc Drops $18B Bid to Take MGM Resorts Private appeared first on World Casino News.
