PPLI stock news · People Incorporated
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Barry Diller’s company wanted to buy MGM, but now MGM is thinking about buying it instead.
Good for PPLIPeople Incorporated's stock jumped after the report because a sale to MGM would likely pay a premium to current holders.
People Inc says it is no longer trying to buy all the shares of MGM Resorts it doesn't own.
NeutralPeople Incorporated withdrew its proposal to buy the remaining MGM shares; I read this as neutral because preserved cash and lost growth opportunity largely cancel each other.