Story perspectives

MGM Weighs Bid for People After $18B Offer Withdrawal

By Drooid · Sep 26, 2026, 2:19 AM UTC · How we work

Summary

People Withdraws MGM Offer

MGM Resorts International is weighing a bid to purchase People Inc., its 27% shareholder.
People Inc. withdrew its $18 billion offer to acquire full control of MGM Resorts.
People’s shares rose 9% while MGM Resorts shares fell 3% after the reversal news.
Barry Diller said People remains open to a strategic transaction with MGM Resorts.

Summary

Akamai Secures Anthropic Deal

Akamai Technologies secured a seven-year, $11.6 billion cloud services contract with Anthropic.
The deal can expand by up to $9 billion, raising total potential to about $20 billion.
Akamai also signed a $1.7 billion hardware supply agreement with Lenovo and Jabil for memory.
TD Cowen raised Akamai’s price target to $149 and J.P. Morgan lifted it to $167.

History

Historical Context

The 2000 AOL-Time Warner merger, valued at about $180 billion and completed in January 2001, marked the first massive media-tech union, pairing AOL’s dial-up internet platform with Time Warner’s studios. That precedent of cross-industry deals underlies today’s MGM Resorts-People stake swap and Akamai’s $11.6 billion cloud contract with Anthropic, showing continued valuation spikes in such partnerships.

1 of 3

People Withdraws MGM Offer

MGM Resorts International is weighing a bid to purchase People Inc., its 27% shareholder.
People Inc. withdrew its $18 billion offer to acquire full control of MGM Resorts.
People’s shares rose 9% while MGM Resorts shares fell 3% after the reversal news.
Barry Diller said People remains open to a strategic transaction with MGM Resorts.

1 / 3