People Incorporated shares rise over 10% on potential MGM takeover bid

People Incorporated shares rise over 10% on potential MGM takeover bid Published: 12:30 25 Sep 2026 EDT People Incorporated (NASDAQ:PPLI) shares rose 10% to $39.74 on Friday noon after a Wall Street Journal (WSJ) report that MGM Resorts International (NYSE:MGM) is considering a potential takeover bid for the media company. The stock was up $3.81 from Thursday's close of $35.93, extending a sharp move that began in after-hours trading after the report emerged. The Journal reported that a potential offer could come within days, although no transaction has been announced and the discussions could still end without a deal. MGM Resorts International (NYSE:MGM) shares fell almost 3% to $32.72. The report came one day after People withdrew its own proposal to acquire the remaining publicly traded shares of MGM , reversing the direction of takeover discussions between the companies. People had proposed paying $48.30 a share in cash for MGM's remaining publicly traded stock, but withdrew the offer on Wednesday after determining that the transaction could not satisfy the required conditions. People currently owns about 27% of MGM, making it the casino operator's largest shareholder and giving any potential transaction a direct connection to People's existing investment. A potential MGM offer would therefore come shortly after People abandoned its effort to take control of the casino company, although the structure and terms of any possible bid remain undisclosed.