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People Inc. walked back its takeover bid but emphasized confidence in MGM, with Barry Diller open to a “range of alternatives.”
Barry Diller’s People Inc. has withdrawn its proposal to acquire MGM Resorts International in a potential deal that had been valued at roughly $18 billion.
The company, formerly known as IAC, holds a 27% stake in MGM and had been preparing a bid to buy up the remaining shares.
People Chairman and Senior Executive Diller said the company “didn
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