MGM Resorts International could divest its 56% stake in MGM China and 40% interest in the MGM Osaka development in Japan under the ownership of Barry Diller’s People Inc, according to commentary from Seaport Research Partners.
However, questions remain over whether the MGM Resorts board will seriously consider the bid submitted by People Inc this week, which values the company at US$18 billion and is described by Seaport as low.
As reported by Inside Asian Gaming, People Inc, which currently holds 26.1% of MGM’s common stock, has submitted a non-binding proposal to acquire all outstanding shares of MGM Resorts International that it does not already own for US$48.30 per share in cash.
