{"id":72206,"date":"2026-09-24T18:08:18","date_gmt":"2026-09-24T22:08:18","guid":{"rendered":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/mgm-resorts-weighs-counter-bid-for-barry-dillers-people-inc-following-withdrawn-merger\/72206\/"},"modified":"2026-09-24T18:08:18","modified_gmt":"2026-09-24T22:08:18","slug":"mgm-resorts-weighs-counter-bid-for-barry-dillers-people-inc-following-withdrawn-merger","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/mgm-resorts-weighs-counter-bid-for-barry-dillers-people-inc-following-withdrawn-merger\/72206\/","title":{"rendered":"MGM Resorts Weighs Counter-Bid for Barry Diller\u2019s People Inc. Following Withdrawn Merger"},"content":{"rendered":"<h2>Key Takeaways<\/h2>\n<ul>\n<li><strong>MGM Resorts International (<a href=\"\/stock\/MGM\">MGM<\/a>)<\/strong> is reportedly considering a takeover bid for Barry Diller\u2019s <strong>People Incorporated (<a href=\"\/stock\/PPLI\">PPLI<\/a>)<\/strong>, just one day after Diller withdrew an <strong>$18 billion<\/strong> proposal to take the casino giant private.<\/li>\n<li>The potential counter-offer by <strong>MGM Resorts (<a href=\"\/stock\/MGM\">MGM<\/a>)<\/strong> could materialize within days, aiming to resolve a complex ownership structure where <strong>People Inc. (<a href=\"\/stock\/PPLI\">PPLI<\/a>)<\/strong> currently holds a <strong>27% stake<\/strong> in the casino operator.<\/li>\n<li>Shares of <strong>People Inc. (<a href=\"\/stock\/PPLI\">PPLI<\/a>)<\/strong> surged <strong>8.5%<\/strong> in after-hours trading on the news, while <strong>MGM Resorts (<a href=\"\/stock\/MGM\">MGM<\/a>)<\/strong> shares stabilized after falling <strong>11%<\/strong> during the regular session following the collapse of the initial go-private deal.<\/li>\n<li>Analysts suggest the deal would allow <strong>MGM Resorts (<a href=\"\/stock\/MGM\">MGM<\/a>)<\/strong> to effectively execute a massive share buyback by acquiring its own stock held by Diller\u2019s conglomerate while gaining a portfolio of high-value publishing assets.<\/li>\n<\/ul>\n<p><strong>MGM Resorts International (<a href=\"\/stock\/MGM\">MGM<\/a>)<\/strong> has entered discussions to potentially acquire <strong>People Incorporated (<a href=\"\/stock\/PPLI\">PPLI<\/a>)<\/strong>, the media and internet conglomerate controlled by Barry Diller. The move, first reported by <em>The Wall Street Journal<\/em>, represents a dramatic reversal in the months-long saga between the two companies. Only 24 hours prior, <strong>People Inc. (<a href=\"\/stock\/PPLI\">PPLI<\/a>)<\/strong>\u2014formerly known as <strong>IAC<\/strong>\u2014had abandoned its own <strong>$48.30-per-share<\/strong> offer to acquire the remaining <strong>73%<\/strong> of <strong>MGM Resorts (<a href=\"\/stock\/MGM\">MGM<\/a>)<\/strong> it did not already own.<\/p>\n<p>The proposed transaction would address a significant &quot;conglomerate discount&quot; currently affecting <strong>People Inc. (<a href=\"\/stock\/PPLI\">PPLI<\/a>)<\/strong>. The company\u2019s market capitalization of approximately <strong>$2.7 billion<\/strong> is nearly identical to the value of its <strong>27% stake<\/strong> in <strong>MGM Resorts (<a href=\"\/stock\/MGM\">MGM<\/a>)<\/strong>, which is worth roughly <strong>$2.5 billion<\/strong>. By acquiring the conglomerate, <strong>MGM Resorts (<a href=\"\/stock\/MGM\">MGM<\/a>)<\/strong> would not only regain control of its own shares but also absorb Diller\u2019s publishing titles, including <em>People<\/em> and <em>Food &amp; Wine<\/em>.<\/p>\n<p>Market reaction to the potential bid has been swift, with <strong>People Inc. (<a href=\"\/stock\/PPLI\">PPLI<\/a>)<\/strong> stock rising sharply as investors anticipate a premium buyout offer. Conversely, <strong>MGM Resorts (<a href=\"\/stock\/MGM\">MGM<\/a>)<\/strong> faced heavy selling pressure during Thursday\u2019s regular session, dropping to a six-month low of <strong>$34.42<\/strong> before news of the potential counter-bid provided a late-day floor. <em>CNBC<\/em> reported that Diller\u2019s initial retreat was motivated by concerns over the heavy debt load required to take the casino operator private, a hurdle that <strong>MGM Resorts (<a href=\"\/stock\/MGM\">MGM<\/a>)<\/strong> may be better positioned to navigate in a reverse-merger scenario.<\/p>\n<p>The board of <strong>MGM Resorts (<a href=\"\/stock\/MGM\">MGM<\/a>)<\/strong>, led by Chairman Paul Salem, has reaffirmed its commitment to the company\u2019s independent growth strategy, highlighting the momentum of its <strong>BetMGM<\/strong> platform and international developments in <strong>Osaka, Japan<\/strong>. However, the strategic logic of &quot;buying back&quot; nearly a third of the company through an acquisition of <strong>People Inc. (<a href=\"\/stock\/PPLI\">PPLI<\/a>)<\/strong> is seen by many on Wall Street as an efficient use of capital. If a formal proposal is made, it is expected to arrive within the coming days as both parties seek to resolve the current valuation impasse.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways MGM Resorts International (MGM) is reportedly considering a takeover bid for Barry Diller\u2019s People Incorporated (PPLI), just one [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":50383,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center 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