People Incorporated has withdrawn its offer to acquire the MGM Resorts shares it does not already own. The MGM Resorts takeover proposal offered shareholders USD 48.30 per share in cash. MGM will remain a standalone company.

• The proposal was submitted on June 1, 2026, offering USD 48.30 per share in cash. It covered all MGM shares not already owned by People. At the time, People held 26.1% of MGM shares.
• People withdrew the offer after discussions with a special committee of MGM’s board. Chairman Barry Diller said the conditions for a deal had not developed as hoped. People said a future transaction with MGM remains possible.
• People currently owns 66.8 million MGM shares, equal to around 27% of the company. “We didn’t feel the mix was coming together in the way we had hoped,” Diller said. People said it remains confident in MGM’s management and business.
• MGM confirmed it will continue as a standalone company after the MGM Resorts takeover talks ended. Its strategy includes its Las Vegas and regional properties, BetMGM, MGM China and MGM Osaka. The board said the company will continue with its existing plans.

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