MGM Resorts stock falls 10.41 percent after bid withdrawal
Published on 09/24/2026 at 18:22 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS
MGM Resorts stock (NYSE: MGM) traded at USD 33.91 on September 24, 2026, down 10.41 percent from the prior close of USD 37.85. The move followed People Incorporated's withdrawal of its USD 48.30-per-share proposal, as WTAQ reported on September 24, 2026.
Buyout premium disappears
People Incorporated had proposed buying the MGM shares it did not already own. The offer, submitted on June 1, 2026, was valued at more than USD 18 billion and covered the remaining public shares.
According to StockTitan on September 24, 2026, MGM's board confirmed that the company would continue as a standalone business. People Incorporated retains 66.8 million MGM shares, representing 27 percent of the company.
Quarterly figures add context
MGM's second-quarter 2026 revenue reached USD 4.45 billion, up 1 percent from the prior-year quarter and above the USD 4.44 billion consensus estimate, according to Yahoo Finance on August 28, 2026.
Adjusted EPS was USD 0.59, below the USD 0.63 consensus estimate and down 25.3 percent from USD 0.79 in the prior-year quarter. Consolidated adjusted EBITDA declined 5.7 percent to USD 610 million, making the takeover bid an especially visible reference point for the market valuation.
Analyst target stays higher
Bank of America reinstated coverage on September 24, 2026, with a Neutral rating and a USD 40 price target, according to GuruFocus. That target sits USD 6.09 above the intraday price of USD 33.91.
Stock trades near yearly low
MGM's intraday price of USD 33.91 on the NYSE was above its 52-week low of USD 29.19 and below its 52-week high of USD 51.59 on September 24, 2026. Its market capitalization stood at USD 8,531,749,010 on the same date.
MGM Resorts International stock data
- Company: MGM Resorts International
- Ticker: MGM
- Trading venue: NYSE
- Price as of September 24, 2026, 12:21 p.m. ET: USD 33.91
- Market capitalization: USD 8,531,749,010 as of September 24, 2026
- 52-week range: USD 29.19-51.59 as of September 24, 2026
