Here’s a twist we didn’t see coming: People’s proposed buyout of MGM Resorts fell through. However, recent developments indicate potential takeover talks involving the companies may have completely flipped. In the same week that Barry Diller’s People Inc rescinded an $18 billion offer to acquire the remaining shares in MGM that it does not already own, reports have surfaced that the tables could be turning. Sources close to the matter suggest that MGM may now be considering a takeover bid for People Inc instead. From a market perspective, the rescinded offer and the potential shift in dynamics have proven favourable…

A takeover offer was submitted to MGM Resorts International on Monday by Barry Diller’s firm, People Inc., valuing the casino operator at more than 18 billion dollars. The corporate proposal arrived only days after another major hospitality acquisition in the United States gaming sector, indicating a wave of consolidation across the domestic casino industry. People Inc., which was previously known as IAC, announced it made an offer of 48.30 dollars per share in cash for the shares of MGM Resorts that it does not currently own. The proposal marks a premium of roughly 10.6 percent over the closing price of…