People Incorporated withdraws proposal to buy MGM Resorts public shares - MGM News | RalliesPeople Incorporated withdraws proposal to buy MGM Resorts public shares
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MGM• People withdraws proposal to buy MGM public shares
- People withdrew its proposal to buy all public shares of MGM Resorts, ending its attempt to take the company private.
- Chairman Barry Diller cited a deal mix that “wasn’t coming together” as expected, while maintaining confidence in MGM’s outlook.
- People said it still holds 66,800,000 MGM shares, equal to about 27% of the company.
- The group said it remains open to a strategic transaction with MGM and will consider alternative structures.
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