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MGM Resorts Ends $18 Billion Merger Talks With People Inc.
FeaturedfinanceSkift··1 min·For: Owner, Investor, GM

MGM Resorts Ends $18 Billion Merger Talks With People Inc.

MGM Resorts has officially terminated merger and buyout discussions with Barry Diller's People Inc. after financing fell through. The parties have signed an amended voting agreement that caps People Inc.'s stake at 29.9% as MGM refocuses on operations.

Key Takeaways

  1. 1People Inc. withdrew its $18B take-private offer after failing to assemble a debt syndicate.
  2. 2An amended agreement caps People Inc. at a 29.9% stake and aligns its votes with the board.
  3. 3MGM CEO Bill Hornbuckle confirmed all reciprocal acquisition talks have ended.

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Source: Skift

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