MGM Resorts CEO Says Deal Talks With People Inc. Have Ended

MGM Resorts International has ended discussions with People Inc. over a possible deal in either direction, CEO Bill Hornbuckle told analysts during an earnings call Wednesday. “We are done,” Hornbuckle said.

The talks covered a possible purchase of People by MGM as well as an acquisition of MGM by People.

People offered $48.30 per share in June for MGM’s remaining publicly held shares and held a 26.1% stake in MGM. People later withdrew the proposal. Chairman Barry Diller cited the complexity of completing the transaction and said the company remained open to a future strategic deal, as described in coverage of People’s withdrawn bid.