Playboy’s parent is going back to its roots as a private company. Playboy Enterprises entered a definitive agreement with founder Hugh Hefner to take the company private.
The agreement calls for Icon Acquisition Holdings, a limited partnership Hefner controls, with private equity backing, to buy back the company’s outstanding shares for $6.15 a share, an 18.3 percent premium over the Jan. 7 closing price.
The octogenarian Hefner offered during the summer to buy back the company after no other serious bids emerged.
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