Barry Diller’s People Inc. Plans a Takeover Bid for MGM Resorts
Consumer
Barry Diller's IAC/People Inc. is preparing a takeover bid for the remaining shares of MGM Resorts it doesn't own, implying an $18B equity valuation for the full company. This is a classic M&A squeeze-out setup: partial owner making a go-private offer creates binary risk/reward — deal premium or gap-down on collapse.
0 reads·0 theses
Angle
↑ LONG+7% target-5% stop1-3 weeks tactical, pending formal bid announcement
Long MGM into deal speculation — bid implies ~$22-23/share on the float, with Diller's partial ownership and a SeekingAlpha tailwind from improving Vegas trends backing the squeeze-out thesis.