People Inc. Retracts Proposal To Buy MGM's Remaining Shares

Barry Diller's People Inc. has withdrawn its bid to buy all public shares of MGM Resorts International, sending MGM’s shares tumbling by 8%. Reuters reports. People, the owner of a 27% stake, offered to purchase the remaining shares, worth more than $18 billion, in June. "We didn't feel the mix was coming together in the way we had hoped and have decided not to pursue taking the company private at this time," Diller commented. But People is interested in pursuing a strategic transaction with MGM.

Last updated Sep 25, 2026 by ATDb automated enrichment