By Ryan Holt | EMD News One of the biggest potential deals in the casino industry just fell apart. Barry Diller’s People Incorporated has withdrawn its proposal to acquire the MGM Resorts International shares it does not already own, ending a takeover effort that valued the casino operator at more than $18 billion. People already owns approximately 27 percent of MGM Resorts. In June, the company offered $48.30 per share in cash for the remaining public shares. Wall Street did…
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Barry Diller Walks Away From $18 Billion MGM Deal and Wall Street Hammers the Stock
Barry Diller’s People Inc. withdrew its MGM Resorts takeover bid. Shares fell sharply as investors reassessed the casino company without the proposed $48.30-a-share offer.
