MGM Resorts falls after People Inc withdraws bid

By Reuters News

** MGM Resorts' MGM.N shares fall about 9% to $34.50 in extended trading

** Media mogul Barry Diller's People Inc says it withdraws bid for MGM

** Diller's People Inc PPLI.O proposed in June to buy MGM, valuing co at more than $18 billion

** People Inc says it remains open to strategic transaction and alternatives with MGM

** People's chairman Barry Diller said, "We didn't feel the mix was coming together in the way we had hoped ..."

** People continues to hold 26% stake in MGM, as per statement

** Up to Wednesday's close, stock had fallen about 18% YTD

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