# People Inc. already owns 26.1% of the outstanding common stock of MGM.

*business · news · 2026-06-01 · UPI News*

## Key points

- People Inc. has made an $18 billion takeover offer for MGM Resorts.
- People Inc. currently owns 26.1% of MGM Resorts' outstanding common stock.
- The acquisition offer is $48.30 per share, a 10.6% premium over MGM's last closing price.
- Barry Miller, People Inc. CEO, also serves as MGM's board chairman and director.

June 1 (UPI) -- People Inc. issued an $18 billion takeover bid for MGM Resorts, CEO Barry Miller announced Monday. People Inc., which already owns 26.1% of the outstanding common stock of MGM, offered to acquire all remaining outstanding shares for $48.30 per share. The offer represents a 10.6% premium over MGM Resorts' closing price Friday and 30% premium to the stock's volume-weighted average price for 90 days. "We began investing in MGM nearly six years ago because we believed it represented a rare kind of business: one with real-world assets that [artificial intelligence] cannot easily replicate or disintermediate and exceptional digital growth opportunities," said Miller, who is also chairman of the board at People Inc. "We continue to believe the market materially undervalues the power and durability of MGM's assets. We believe MGM's management team is superb and that there is a compelling opportunity to support MGM's next phase of growth and help unlock its full value." Diller also sits on the board of directors at MGM.

**Companies:** MGM Resorts, People Inc.
**Countries:** United States

[Read the full story on UPI News](https://www.upi.com/Top_News/US/2026/06/01/mgm-resorts-people-inc-barry-miller-takeover/6411780334067/)

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