People Incorporated Drops Bid to Take MGM Resorts Private
New York – September 24, 2026 -- People Incorporated (NASDAQ: PPLI) has withdrawn its proposal to acquire all public shares of MGM Resorts International, ending a bid to take the casino and hospitality operator private.
Diller cites unresolved deal terms as reason for retreat
Chairman and Senior Executive Barry Diller said the company "didn't feel the mix was coming together" as hoped and opted against pursuing a going-private transaction at this time.
People Incorporated retains 27% stake worth 66.8 million shares
The company confirmed it continues to hold 66.8 million MGM Resorts shares, representing approximately 27% of the company, and expressed continued confidence in MGM management and its business outlook.