No one, it seems, wants to buy Forbes. According to Bloomberg News, one potential frontrunner to purchase the company is officially out, and two other bidders are no longer engaged in active talks.
It has been about six months since Forbes started fetching offers, but nothing has moved beyond preliminary discussions. China’s Fosun International — publisher of Forbes China — was considered the leader to buy Forbes, but they’re out. Two other companies — Singapore’s Spice Global Investments and Germany’s Axel Springer — have also ended discussions.
We bet you can guess the reason interest has dried up. That’s right, money! The trio of companies considered Forbes’ $400 million asking price way too expensive, so they’re moving on.
Don’t these companies realize that if they owned Forbes they could continuously publish lists of rich people and somehow people will never grow tired of them? That must be worth something.