Barry Diller People Inc. bid to take MGM Resorts private
Key takeaways
- Barry Diller People Inc. bid to take MGM Resorts private Quartz · Mitchell Layton / Getty Images Cris Tolomia Mon, June 1, 2026 at 8:41 PM GMT+7 2 min read MGM Barry Diller s People Inc.
- According to Reuters, People Inc. — the company formerly called IAC, which completed its rebranding in April — holds a 26.1% stake in MGM.
- Premarket trading on Monday saw MGM shares climb over 10%, with People Inc. shares also ticking up by nearly 3%, Reuters noted.
Barry Diller People Inc. bid to take MGM Resorts private Quartz · Mitchell Layton / Getty Images Cris Tolomia Mon, June 1, 2026 at 8:41 PM GMT+7 2 min read MGM Barry Diller s People Inc. has submitted a nonbinding proposal to acquire the remaining stake in MGM Resorts it does not already own, in a deal that would value the casino company at $18 billion and take it private.
According to Reuters, People Inc. — the company formerly called IAC, which completed its rebranding in April — holds a 26.1% stake in MGM. At $48.30 per share in cash, the proposed price would exceed MGM s Friday close by about 10.6% and sit roughly 30% above its volume-weighted average price for the preceding 90-day period, The New York Times reported.
Premarket trading on Monday saw MGM shares climb over 10%, with People Inc. shares also ticking up by nearly 3%, Reuters noted.