MGM and People Inc cap stake at 29.9% in amended voting agreement

Amended 28 October 2026 - MGM Resorts signs an amended voting agreement with People Incorporated, formerly IAC, after People withdrew its roughly $18bn proposal to buy the shares it did not already own. The covered entities, People, Barry Diller and certain associated persons holding 66.8 million shares or about 27% of MGM, agree not to buy more stock beyond a 29.9% cap and to vote their shares with the board's recommendation in any change of control, while MGM undertakes not to adopt defensive measures designed to be adverse to them. The agreement does not oblige either side to pursue a transaction and MGM says none is contemplated.

Year

2026

Type

Announced