Barry Diller Proposes $18 Billion Takeover Offer for MGM Resorts International
Billionaire Barry Diller's company People Inc. (PPLI) is offering to acquire the remaining shares of publicly traded MGM Resorts International at $48.30 per share, valuing the casino giant at approximately $18 billion including debt. The offer represents a premium over recent stock prices and has already driven a 30% year-to-date increase in MGM's stock price.
Tickers: $MGM
Topics: Corporate Takeovers Investor Strategy Stock Market Reaction