MGM Resorts surges after report Barry Diller is planning a bid for the company

MGM Resorts is up more than 11% in premarket trading Monday following a report that the casino giant is the target of an acquisition by billionaire Barry Diller’s People Inc. (IAC).

The deal would value MGM at $18 billion, according to The New York Times.

People Inc. already holds more than a quarter of MGM and two board seats. (Diller holds one of them.)

The news comes just days after MGM rival Caesars Entertainment reached an agreement to be acquired by billionaire Tilman Fertitta’s company for $5.7 billion.

Barry Diller’s People Inc. Plans a Takeover Bid for MGM Resorts

People Inc. already holds more than a quarter of MGM and two board seats. (Diller holds one of them.)

The news comes just days after MGM rival Caesars Entertainment reached an agreement to be acquired by billionaire Tilman Fertitta’s company for $5.7 billion.

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SpaceX received more than a dozen positive analyst calls on Tuesday — including from major Wall Street banks — as they initiate coverage on Elon Musk’s space and AI company.

SpaceX went public on June 12 at a $2.2 trillion valuation, the largest debut in history. While the company hasn’t yet posted a profit, it seems to have convinced Wall Street that it will get there and grow its valuation on the way.

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