Mergers and Acquistions News
Categories: Media & Information Services
January 10th 2011, 16:39PM
Adult consumer brand Playboy Enterprises will be taken private by its founder Hugh Hefner after he raised his bid by 12 per cent.
Icon Acquisition Holdings, a limited partnership investment vehicle controlled by Hefner, will acquire the company for $6.15 (£3.90) per share. Reports estimate that price values the firm as between $180 million and $210 million.
The 84-year-old already owns nearly 70 per cent of Playboy's Class A stock and just under 28 per cent of its Class B shares.
"With the completion of this transaction, Playboy will come full circle, returning to its roots as a private company. The brand resonates today as clearly as at any time in its 57-year history," Hefner said.
Scott Flanders, chief executive officer of Playboy, will remain with the company in his current position.
Hefner published the first edition of the magazine in 1953. Famous for its 'rabbit head' symbol, the publication's total US circulation of 1.5 million surpasses that of Esquire and GQ. 
Related News
Categories
- BPO (32)
- Hardware (118)
- IT Services & Consulting (227)
- Media & Information Services (167)
- Semi-Conductors (77)
- Software (230)
- Telecoms (331)
Archive
- May 2012 (0)
- April 2012 (0)
- March 2012 (0)
- February 2012 (0)
- January 2012 (1)
- December 2011 (20)
- November 2011 (20)
- October 2011 (20)
- September 2011 (20)
- August 2011 (20)
- July 2011 (20)
- June 2011 (21)