Photo: Maurizio Pesce from Milan, Italia | CC BY 2.0 | Wikimedia Commons
Barry Diller's People Inc. Offers $18 Billion To Take MGM Private
Barry Diller's investment vehicle People Inc. offered to buy the rest of MGM Resorts on June 1, 2026, proposing $48.30 per share to take the company private.[1]
The proposal values MGM at more than $18 billion and is an all-cash bid for the remaining shares.[1] People Inc. already holds a 26.1% stake in MGM, a holding the filing values at about $2.9 billion.[1]
People Inc.'s existing 26.1% position provided the foundation for the full takeover offer, the filing shows.[1]
People Inc. said it plans to fund the acquisition with cash on hand plus additional debt and equity financing.[1]
Show source details & analysis (1 source)
📌 Key Facts
- On June 1, 2026, People Inc. announced an all-cash offer for the rest of MGM Resorts at $48.30 per share.
- The proposed deal values MGM Resorts at more than $18 billion and would take the company private.
- People Inc. already holds 26.1% of MGM, a stake valued at about $2.9 billion, and plans to fund the acquisition with cash plus additional debt and equity financing.
📰 Source Timeline (1)
Follow how coverage of this story developed over time
June 01, 2026