Time Inc's Buyout Price is Now Above $20
Well as of last night as we all now know, Bronfman took his deep pockets and walked away ending his effort to buy the almost 100 year old company leaving Meredith as the only suitor (publicly) at the table. But Bronfman may not be the only one who balked at the price which could explain why Time Inc has extended the offer deadline. The company is probably giving the remaining bidders a chance to hit or come close to the $20+ a share price. So when the new deadline arrives, Time Inc will either agree to be sold, or remain independent and instead seek an investor to inject some cash into the thing. Or they could extend the offer deadline again if the stock price ticks up even more. However if they're really serious about selling, then they need to decide soon or risk seeing offers reduced or pulled along with a sinking stock price and value. There is also that little fact that the company isn't really making any money and its revenue has fallen every year since 2011. Time Inc's board may be basing their offer expectations on brand potential and reach which shouldn't be ignored. But potential suitors are no doubt mostly basing their offers on the cold hard numbers which tells a completely different story.
Time Inc's Buyout Price is Now Above $20 Reviewed by Editor on Thursday, March 09, 2017 Rating: