MGM Stock Slumps 9% After-Hours — Barry Diller’s People Inc. Scraps Proposal to Buy Out MGM Resorts

Media mogul Barry Diller’s People Inc. (PPLI) has called off its proposal to acquire all public shares of MGM Resorts International (MGM), halting a multi-billion-dollar effort to take the global casino operator private.The decision, announced on Wednesday, concludes months of negotiations followin…