A minority owner of MGM Resorts has made an offer to take over the rest of the casino giant.
The Wall Street Journal reported Monday that the offer from Barry Diller’s People Inc. would value the company at $18 billion.
The company, previously known as IAC, already owns 26.1% of the business, and has submitted a nonbinding proposal to buy the rest at $48.30 a share in cash, the report said.
If the board accepts the offer, MGM would become a private company controlled by People Inc.
This is a developing story. Check back for updates.
