MGM Amends Voting Pact With People Inc. on a Change of Control
Photo: TokenPost
MGM Resorts International amended its voting agreement with People Inc. to set how People and associated shareholders will vote if a change of control is at issue. People Inc., People Inc. Chairman Barry Diller and associated individuals will vote all their MGM shares in line with the MGM board’s recommendation in that matter. The amendment follows People’s withdrawal of its proposal to buy MGM’s remaining publicly held shares. People offered $48.30 per share in June and held a 26.1% stake in MGM, as described in coverage of People’s withdrawn takeover proposal .
Source: TokenPost
