MGM CEO: ‘We’re Done’ With People Inc. Takeover Talks

Merger talks in either direction between MGM Resorts International (NYSE: MGM) and People Inc. (NASDAQ: PPLI) are over. MGM CEO Bill Hornbuckle confirmed as much on the gaming company’s third-quarter earnings conference call late Wednesday, which he led off by addressing the issue of acquisition discussions with Barry Diller’s media company while highlighting the new voting agreement between the two companies unveiled yesterday. That accord caps People’s ownership of MGM equity at 29.9% while providing an avenue for the publishing house to approve a takeover of the casino operator by another party in the future.