People Inc., the former IAC, is offering to buy all the remaining shares of MGM Resorts, building on the 26.1% stake it already has, CBS News reports.
Barry Diller’s company began investing in the Las Vegas casino and resort operator, now valued at more than $18 billion, six years ago. People Inc. is offering $48.30 per share in cash, or a
10.6% premium over last Friday’s price for MGM Resorts.