MGM Resorts amends voting agreement after People withdraws takeover proposal

MGM Resorts International said it amended its voting agreement with People Inc. after People withdrew its proposal to acquire the gaming company. Under the agreement, People, Barry Diller and related entities must vote their MGM shares in line with the board’s recommendation on a sale or change of control, subject to conditions; their combined stake is capped at 29.9%. MGM said the agreement does not require either side to pursue a transaction.