MGM Resorts CEO says back-and-forth takeover talk with People Inc. is over for good

MGM Says Deal Talks With Barry Diller’s People Incorporated Are Over

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MGM ends takeover talks with largest shareholder People Inc. after $18B bid withdrawal

MGM Resorts International has ended takeover discussions with its largest shareholder, People Inc., after the latter withdrew its bid for a proposed acquisition, President and CEO Bill Hornbuckle said during the operator’s third-quarter earnings call on Wednesday. Hornbuckle said People and a special committee of MGM Resorts had agreed on a price, but People was unable to assemble a syndicate that...

MGM Resorts says talks with People Incorporated are over, after each weighed buying the other; MGM amended its voting deal with People, which owns ~27% of MGM (Wall Street Journal)

Wall Street Journal: MGM Resorts says talks with People Incorporated are over, after each weighed buying the other; MGM amended its voting deal with People, which owns ~27% of MGM  —  People withdrew its offer to buy MGM last month; soon after, The Wall Street Journal reported that MGM was considering a potential bid for People

MGM Resorts CEO says back-and-forth takeover talk with People Inc. is over for good

KEY TAKEAWAYS Barry Diller’s People Inc. won’t be buying MGM Resorts International, and MGM Resorts International won’t be buying Barry Diller’s People Inc. MGM Resorts President and CEO Bill Hornbuckle definitively cleared up the situation around the M&A discussions on the company’s third-quarter earnings call on Wednesday. “We are done,” Hornbuckle told investors and analysts […]