Market Chatter: MGM Resorts International Forms Committee to Review Barry Diller's Potential Takeover Bid

MT Newswires Live07-13 18:27

MGM Resorts International (MGM) is evaluating a takeover proposal from billionaire investor Barry Diller after the company's board formed a special committee and hired advisers to review the offer, The Wall Street Journal reported late Friday, citing people familiar with the matter.

Diller, whose company owns about 26% of MGM, offered $48.30 per share for the remaining stake in June, valuing the company at about $12.4 billion, according to the report.

Discussions have intensified this month, though no agreement has been reached yet, the report said.

MGM Resorts International did not immediately respond to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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