People Inc. bids $18B to take MGM Resorts private
Barry Diller's People Inc. has offered to acquire MGM Resorts for more than $18 billion, proposing $48.30 per share in cash and signaling a move to privatize the Las Vegas operator after owning 26.1% of its stock; the deal would be financed with cash on hand plus debt and equity, and MGM's properties like the Bellagio and Luxor would become privately held if the transaction closes. Diller also noted that AI cannot easily replace the real-world experiences MGM offers; MGM did not immediately comment.
