MGM•MGM Resorts International is reportedly discussing a bid for People Inc, a day after People withdrew its proposal to buy MGM. MGM could make a proposal in the coming days, and People shares rose 9% after the bell.
MGM Resorts International is discussing making a bid for People Inc, which could come in the coming days if MGM decides to proceed, people familiar with the matter said. The discussions follow People’s withdrawal of its proposal to buy MGM a day earlier.
People, formerly known as IAC, has built its stake in MGM since 2020 and currently owns around 27%. The stake is worth roughly as much as People’s own market capitalization. People shares rose 9% after the bell.
