MGM Resorts International (NYSE:MGM) has received a non-binding, all-cash takeover proposal from American billionaire and media mogul Barry Diller's People Inc, formerly IAC, (NASDAQ: IAC) to acquire the 73.9% of the company it does not already own at $48.30 per share. People Inc said the offer implies an equity value of approximately $18 billion for the remaining stake and represents a 24.1% premium to MGM's 30-day volume-weighted average price through May 29, 2026, as well as a 10.6% premium to the latest closing price.