Photographer: Chris Hondros/Getty Images

Time Inc. Soars on Report It Hired Bankers to Solicit Offers

Updated on
  • Morgan Stanley, BofA tapped after Bronfman made overture
  • Time said to have earlier received cash bid of $18-$20 a share

Time Inc. shares surged after the Wall Street Journal reported that the iconic magazine publisher hired bankers to field takeover offers.

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