People Incorporated's $48.30 Bid Sends MGM Resorts Shares Sharply Higher
MGM Resorts International shares jumped sharply in morning trading after People Incorporated, the company formerly known as IAC, submitted a non-binding, all-cash proposal to acquire the remaining publicly held shares of the casino operator for $48.30 per share. The offer seeks to buy the roughly 73.9% of MGM not already owned by People Incorporate…