MGM Amends Voting Pact After Bid
MGM Resorts amended its voting agreement with People Inc following the withdrawal of an acquisition proposal. The pact caps ownership and requires shares to be voted with the board during a sale.
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MGM Resorts International amended its voting agreement with People Inc, capping the investor group's stake at 29.9% following a withdrawn $18B takeover bid. The revised pact alters governance rules between the casino operator and media mogul Barry Diller's investment vehicle. Investors are weighing the terms as MGM focuses on its core operating strategy.
