Markets·Sep 24, 2026
MGM Resorts Shares Sink 9% After Barry Diller's People Inc. Pulls Takeover Offer
The media company rescinded its bid to buy the remaining public shares of the casino operator.
MGM Resorts shares dropped 9% after Barry Diller's People Inc. rescinded its offer to purchase the remaining publicly traded shares of the casino and resort operator, according to CNBC.
The withdrawal ends, at least for now, a potential deal that would have taken MGM Resorts further under People Inc.'s control by buying out remaining public shareholders.
CNBC's report did not detail the reasoning behind People Inc.'s decision to pull the offer or whether a revised bid could follow.
The sharp share-price reaction reflects how significantly investors had priced in the prospect of the takeover before it was withdrawn.
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