MGM Alters Diller Voting Agreement, Door Open for Him to Approve Third-Party Takeover

MGM Resorts International (NYSE: MGM) and Barry Diller’s People Inc. (NASDAQ: PPLI) amended a voting agreement struck earlier this year , potentially opening the door for the media mogul to sign off on an acquisition of the casino giant by another suitor. News of the fresh voting pact emerges about a month after Diller’s media company dropped an $18 billion takeover bid of the Bellagio operator. Under the agreement reached in April, Diller and other “covered entities” agreed to limit voting influence at the gaming company.