Barry Diller's People Inc. Makes $18 Billion Bid to Take MGM Resorts Private

Las Vegas Sun · 1w ago

Media mogul Barry Diller's company People Inc., already MGM Resorts' largest shareholder with a roughly 26% stake, has offered $48.30 per share to buy out the rest of the company in a deal valuing MGM at more than $18 billion. The offer represents roughly a 10% premium over MGM's recent closing price and would take the casino and resort operator private. Diller pointed to MGM's real-world assets and digital growth potential as reasons the company is undervalued, and MGM's board says it is reviewing the proposal with its financial and legal advisors.