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Penthouse Bids On Playboy

Filed under: PlayboyBusiness Blitz

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It's all out fake tittay bidding war for Playboy!

Even though Hugh Hefner has made an offer to buy previously unowned shares and make his company private, Penthouse has stepped in and made a formal bid for the nudie mag.

On Thursday, Penthouse' parent company FriendFinder offered to buy Playboy Enterprises for $210 MILLION.

But Hef still may keep his company after all.

RBC Capital Markets analyst David Bank explains that if Hef "doesn't want to sell, there's no deal" because he owns 70% of the voting shares.

[Image via WENN.]

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Hef Offers To Take Playboy Private

Filed under: PlayboyBusiness Blitz

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In order make Playboy a private company, Hugh Hefner has backing from a private equity firm Rizvi Traverse Management LLC to buy the shares of his empire that he does not already own.

But he's got some competition!

CEO of FriendFinder, Mark Bell, is planning on making a formal bid.

Although Hef does not plan on selling his shares or the company. He wrote a letter to Playboy's board of directors detailing his disdain for a merger with any other brand.

Too bad Mr. Hefner only owns 4 million of the companys' 33.6 million shares of stock. It isn't his decision anyway.

[Image via WENN.]

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