Time Inc. has rejected a buyout bid proposed by Edgar Bronfman Jr. (pictured).
Bronfman is a managing partner at Accretive LLC, a private equity firm that typically invests in tech companies.
The New York Post reports that Bronfman teamed up with Len Blavatnik and Ynon Kreizto buy Time Inc. at $18 a share.
Time Inc. rejected the offer, which would’ve been a 30 percent premium on its Friday closing price.
WORK SMARTER - LEARN, GROW AND BE INSPIRED.
Subscribe today!
To Read the Full Story Become an Adweek+ Subscriber
Already a member? Sign in