MGM Resorts Casino
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Barry Diller's People offers to buy casino giant MGM Resorts for $48.30 per share
Barry Diller's People Inc. has offered to buy casino giant MGM Resorts for $48.30 per share in cash. MGM is the company behind major Las Vegas properties including Bellagio and Aria. Shares of MGM were up roughly 11% in early trading Monday.
Barry Diller launches $18bn takeover offer for MGM Resorts
Casino resort group’s shares jump 15% after media veteran’s company People Inc makes take-private bid
Media mogul Barry Diller’s People offers to buy MGM Resorts for over $18bn
Focus on casino operator is sharp departure from media for Diller as markets remain volatileMedia mogul Barry Diller’s People Inc said on Monday it had proposed to buy MGM Resorts, valuing the casino operator at more than $18bn. The offer comes just weeks after Diller, the digital media company’s chair, told shareholders in a 28 April letter that People would sharpen its focus on its MGM stake, calling the stock “wildly undervalued”.
Media mogul Barry Diller’s People offers to buy MGM Resorts for over $18bn
Focusing in on the casino operator is a sharp departure from media for Diller at a time when markets remain volatileMedia mogul Barry Diller’s People Inc said on Monday it has proposed to buy MGM Resorts, valuing the casino operator at more than $18bn. The offer comes just weeks after Diller, the digital media company’s chair, told shareholders in a 28 April letter that People would sharpen its focus on its MGM stake, calling the stock “wildly undervalued”.