Deals
Playboy Agrees to Go Private in Hefner-Led Buyout
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Playboy Enterprises Inc. agreed to be taken private for $207 million by founder Hugh M. Hefner, who increased his bid to gain full control of the 58-year-old magazine publisher amid slumping circulation and losses.
Hefner, 84, is offering to buy the Class A stock and Class B shares he doesn’t already own for $6.15 per share, representing an 18 percent premium over the Class B closing price of $5.20 a share on Jan. 7, the company said in a statement today. Hefner said in July he would pay $5.50 a share in cash for the stock.