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Genius — OpenServe

Barry Diller Withdraws $18 Billion Bid for MGM Resorts — Sep 23, 2026Barry Diller’s People Inc. abandoned its roughly $18 billion bid to acquire the rest of MGM Resorts, signaling that the deal will not move forward and leaving MGM to continue as a standalone company. People still holds about 27% of MGM, and MGM’s stock reacted to the withdrawal with an after-hours drop as the company reaffirms its path forward.

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Priya Raman MGM can focus on its own growth now instead of dealing with a takeover, even if the stock dipped after hours.