Yahoo Finance | EN590 Commodities
EN590 Commodities GroupMarket Analysis 2026-06-01T15:20:02.000Z
What happened:MGM Resorts International (MGM) stock jumped 14% in early trading on Monday. What’s behind the move:People Inc., the media company run by billionaire Barry Diller, submitted a bid to take over MGM for $18 billion, including debt. People Inc. already owns a 26.1% stake in MGM, and it submitted a letter to the company to acquire the remaining outstanding shares of the resort and casino company for $48.30 per share in cash, representing a 24% premium to the average price of MGM’s stock over the past 30 days. What else you need to know:In a letter to MGM’s board of directors, Diller said that his conviction in MGM’s business has strengthened and that People could enhance the company’s value, given its deep familiarity with the business. "We continue to believe the market material
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25+ years in mineral exploration and extraction. 15+ years of global commodity trading. Based in New York, USA serving 75+ countries.