Barry Diller's People Inc. is offering to buy the rest of MGM Resorts after acquiring a 26.1% stake in the Las Vegas casino and resort operator, valuing the business at more than $18 billion. People Inc.

Barry Diller, whose company already owns a 26% share of casino giant, said MGM’s potential isn’t being fully realized in the public markets.

The mogul’s People Inc. is preparing an offer to buy the portion of the casino giant that it doesn’t already own, at an $18 billion valuation.

Media mogul Barry Diller's People Inc said on Monday it has proposed to buy MGM Resorts , valuing ‌the casino operator at more than $18 billion, marking the industry's second takeover bid in a week as it grapples with slowing consumer demand.

Barry Diller has made an offer for the remaining portion of MGM Resorts International he doesn’t already own, marking the latest pivot for the billionaire media mogul after overhauling IAC Inc.

Barry Diller is making his next big move as People Inc. (previously IAC) submitted a non-binding proposal to acquire control of MGM Resorts International. The plan would be to buy outstanding MGM shares that People doesn't already own and take the publicly-traded company private.

People Inc. offers to acquire MGM Resorts for $48.30 a share in cash, valuing the casino operator at roughly $18 billion.

Barry Diller's People Inc. is preparing a bid to buy casino giant MGM Resorts, a deal that would value it at more than $18 billion, CNBC's Andrew Ross Sorkin reported Monday. The proposal has not yet been finalized,