Barry Diller's People Inc. is bidding to take MGM Resorts private in an $18 billion deal

People Inc. has submitted a nonbinding proposal to buy the 73.9% of MGM it doesn't already own at $48.30 a share in cash

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Barry Diller's People Inc. has submitted a nonbinding proposal to acquire the remaining stake in MGM Resorts it does not already own, in a deal that would value the casino company at $18 billion and take it private.

According to Reuters, People Inc. — the company formerly called IAC, which completed its rebranding in April — holds a 26.1% stake in........

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