MGM Ends People Takeover Talks, Updates Voting Agreement

MGM Resorts International has ended takeover discussions with its largest shareholder, People Inc., after the investment company withdrew its acquisition proposal and both sides revised their voting agreement. CEO Bill Hornbuckle confirmed during MGM’s third-quarter earnings call that discussions over either company acquiring the other have concluded. People, led by Barry Diller, had offered to buy the MGM shares it did not already own before withdrawing its proposal in September.