Via Reuters reporters Lauren Hirsch and Jessica Toonkel, some good news and bad news for Time Inc. shareholders. The bad news is that Meredith Corp.’s preliminary offer is below Time Inc.’s preferred deal-valuation threshold. The good news is that negotiations have only just begun.
From today’s Reuters exclusive:
While Time Inc. is looking to sell itself for more than $20 per share, Meredith has so far made a preliminary offer with a price range that values it below that, the people said this week.
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