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Barry Diller Bets Big On Real-World Assets AI Can't Replace With MGM Resorts Bid
Barry Diller Bets Big On Real-World Assets AI Can't Replace With MGM Resorts Bid
People Incorporated, formerly IAC and run by Barry Diller, has submitted a non-binding proposal to acquire the remaining MGM Resorts shares it does not already own for $48.30 per share in cash.
The latest Bloomberg data show People Inc. owns 26.1% of MGM Resorts, or about 66.82 million shares. The offer to buy the remainder would cover roughly 73.9% of MGM that is not already owned.
The $48.30-per-share offer represents a 24.1% premium to MGM's 30-day volume-weighted average...
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