IAC Proposes Buyout for Remaining Stake in MGM Resorts International
On June 1, IAC (now People Inc.) submitted a $48.30 per share all-cash bid to acquire the remaining 73.9% stake it does not own in MGM Resorts International. The market reacted positively, with shares rising 16%, closing at $50.69 as investors anticipate higher bids due to perceived undervaluation.
Topics: arbitrage IAC/People Inc. MGM Resorts International stock price movement takeover bid