MGM Weighs Bid for Barry Diller-Backed People Inc
MGM Resorts is discussing a potential bid for Barry Diller-backed People Inc after the digital media company withdrew its own proposal to buy MGM. People shares rose following the report of potential acquisition talks.
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MGM Resorts International is weighing a counter-bid to acquire Barry Diller's IAC Inc after People Inc withdrew its own takeover proposal, according to a Wall Street Journal report on Thursday evening. The potential deal follows a 9% rise in IAC shares after the bell in the United States. MGM could formalize its proposal in coming days, people familiar with the matter said.
