MGM Resorts enters agreement to limit voting power of Barry Diller’s People Inc following collapsed takeover move

US casino giant MGM Resorts International has entered into an agreement with Barry Diller’s People Incorporated – the company’s largest single shareholder – under which People Inc, Diller and their respective controlled affiliates have agreed not to increase their stake above 29.9% of MGM’s common stock. People Inc currently holds a 26.5% interest as per latest documentation. The agreement, which essentially regulates how much of MGM that People Inc and its entities can own as well as how they wield their voting power, also requires People Inc to vote any securities it owns in excess of 25.73% of MGM’s total…