Barry Dillers People Inc. Plans a Takeover Bid for MGM Resorts

ImageAndrew here.We’ve got a scoop: Barry Diller is working on a bid to buy MGM Resorts, the casino giant.Also, Niko Gallogly goes behind the scenes of a law firm giant’s investment in its own A.I.

systems and what it means for partners and associates.And Vivienne Walt reports for DealBook on Tehran’s threats to damage or seize control of data cables under the Strait or Hormuz.An $18 billion takeover bid for MGM ResortsUpdate: People Inc.

offered on Monday to buy control of MGM Resorts at an $18 billion valuation, including the assumption of its debt.Barry Diller’s business empire, People Inc., is preparing an offer to buy MGM Resorts, the casino giant, that values it at more than $18 billion, DealBook has learned.The proposal is still being finalized and could be delayed or scrapped, but the move would be Diller’s latest strategic pivot after overhauling the company once known as IAC.What Diller plans to offer: People Inc.is planning to bid $48.30 a share in cash for the 73.9 percent of MGM Resorts that it doesn’t already own.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access.

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