Rhode Island financier who chairs MGM Resorts board is facing an $18 billion takeover bid – CDC Gaming
CDC Gaming Reports
Last updated: June 9, 2026
Media mogul Barry Diller, through his company IAC, has made an $18 billion bid to acquire MGM Resorts. This potential takeover places Rhode Island financier Paul Salem, the chairman of MGM's board, at the forefront of this significant corporate transaction. The decision to accept or reject the offer rests with Salem and the MGM board of directors.
- IAC, which already holds a 26% stake in MGM Resorts, proposed to purchase the remaining shares at $48.30 per share, valuing the entire company at approximately $18 billion. This bid positions the transaction as one of the year's largest corporate takeover attempts. The board's deliberation will determine the future independence of MGM Resorts, a major player in the casino industry.
