Media mogul Barry Diller’s People offers to buy MGM Resorts for over $18bn
by Reuters from US news | The Guardian on (#760RW)
Focus on casino operator is sharp departure from media for Diller as markets remain volatile
Media mogul Barry Diller's People Inc said on Monday it had proposed to buy MGM Resorts, valuing the casino operator at more than $18bn.
The offer comes just weeks after Diller, the digital media company's chair, told shareholders in a 28 April letter that People would sharpen its focus on its MGM stake, calling the stock wildly undervalued".
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