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MGM and People amend voting pact after People withdraws takeover proposal
Filed with the SEC on · Summarized by InvestorsBot
MGM Resorts International amended its voting agreement with People Incorporated, Barry Diller and related affiliates after People withdrew its proposal to acquire MGM. The agreement caps their ownership at 29.9%, requires them to follow the MGM board’s recommendation in qualifying change-of-control votes, and limits MGM’s ability to use defensive measures against them while they comply; no transaction is obligated or currently contemplated.