People Inc. withdraws its MGM buyout proposal but retains its stake
People Inc. ($PPLI) withdrew its proposal to buy all publicly held MGM Resorts ($MGM) shares that it did not already own. The company said it would retain approximately 66.8 million MGM shares, representing about 27% of the business, while remaining open to other strategic alternatives. The withdrawal ends the current proposal without indicating a sale of People’s existing investment. MGM’s board responded by reaffirming its standalone strategy and commitment to shareholder value. The company hi
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