Las Vegas, Clark County, Nevada: MGM Resorts and People Inc. Reach New Voting Pact on October 28, Formally Ending Merger Talks
MGM Resorts International, based in Las Vegas, Clark County, Nevada, said on October 28 that merger talks with its largest shareholder, People Inc. (formerly Dotdash Meredith), are over, after the two sides agreed on a new voting pact.
Under an amended voting agreement disclosed in a Wednesday filing, People Inc. and its chair, Barry Diller, will vote all of their MGM Resorts shares in line with the board's recommendations. People Inc. is MGM's largest shareholder.
MGM operates many of the large resorts on the Las Vegas Strip, whose business has been sliding for two years. Analysts say ending the talks may let management focus on improving operations; the specific terms are as set out in the formal filing.
Source: GSM News
Source: GSM · USA (original Chinese edition)
Photo: 美高梅国际酒店集团（MGM Resorts）标志性度假村 / MGM Resorts, Las Vegas
