MGM Resorts falls after People Inc withdraws bid

MGM Resorts International

23/09/2026 23:25

** MGM Resorts' MGM.N shares fall about 9% to $34.50 in extended trading
** Media mogul Barry Diller's People Inc says it withdraws bid for MGM    
** Diller's People Inc PPLI.O proposed in June to buy MGM, valuing co at more than $18 billion
     ** People Inc says it remains open to strategic transaction and alternatives with MGM
** People's chairman Barry Diller said, "We didn't feel the mix was coming together in the way we had hoped ..."
** People continues to hold 26% stake in MGM, as per statement
** Up to Wednesday's close, stock had fallen about 18% YTD

(Reporting by Angela Christy M)
((AngelaChristy.M@thomsonreuters.com))