MGM Resorts Confirms It Has Received Acquisition Offer From People Incorporated
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Editorial Dept.
MGM Resorts International has been approached with a takeover offer from People Incorporated (formerly IAC) to buy the shares it doesn’t alrady own. The company said the board of directors, together with its financial and legal advisers, will consider the offer and evaluate its terms. Any result will be subject to the continuing review process and negotiations, if any.
A press release from MGM Resorts International disclosed that People Incorporated is offering $48.30 per share in cash.
The Company’s Board of Directors, in consultation with its financial and legal advisors, will carefully review and consider the proposal to determine the course of action that it believes is in the best interests of the Company and all of its shareholders.
The Company added that it cannot provide assurances that such proposal or any subsequent proposal will result in an agreement or a transaction being reached or, if so, as to the timing, price or other terms and conditions of any such agreement. It is also emphasized that it remains focused on advancing its position as the world’s premier gaming entertainment company.
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