STAYSkift · 3h ago
Barry Diller Withdraws MGM Resorts Bid Worth $18 Billion
Executive Brief
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Barry Diller's IAC has withdrawn its $18 billion acquisition bid for MGM Resorts. Despite the withdrawal, Diller remains committed to his existing stake while exploring alternative strategic partnerships.
- 01IAC officially retracted the eighteen billion dollar takeover proposal for MGM Resorts
- 02Executive leadership expressed continued confidence in the hospitality giant's long-term business trajectory
- 03Barry Diller remains open to a range of alternative strategic collaborations with the company
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People Inc. walked back its takeover bid but emphasized confidence in MGM, with Barry Diller open to a “range of alternatives.”