MGM Resorts in deal talks with Barry Diller’s People

Corporate Action Impact 4
โดย Seeking Alpha·Read original
Summary · why it matters

MGM Resorts has started discussions with People for a potential buyout after Barry Diller’s media company offered to acquire the casino giant in a transaction worth $12.4 billion last month. MGM has established a special board committee and hired advisers to review the bid, which it believes undervalues the company. Bankers including some at JPMorgan Chase are advising Diller and are ready to provide financial backing. Discussions have heightened this month, but there is no guarantee of a final agreement. Diller’s firm already owns approximately a 26% stake in MGM.

Impact on stocks 4

Consumer Discretionary▲ · 2 stocks
MGM Resorts International
MGM
± MixedCapitalrelevance

MGM is the target of a buyout offer it believes undervalues the company; discussions are ongoing with no guarantee of a deal.

Communication Services▲ · 1 stocks
People Incorporated
PPLI
▲ PositiveCapitalrelevance

People is the acquirer in a $12.4 billion buyout offer for MGM Resorts, which would expand its assets.

Digital Finance & Tokenization▲ · 1 stocks
JPMorgan Chase & Co
JPM
▲ PositiveCapitalrelevance

JPMorgan Chase is advising Diller and providing financial backing for the potential deal, generating advisory fees.

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