Playboy Is Being Taken Private

playboy bunnies

Photo: By ║Dd║ on flickr

Beaten-down Playboy is going private.With a market cap of just $175 million, the company will go private at a price of $6.15/share, above the $5.20 Friday closing price.

Icon Acquisition Holdings is the acquirer.

Said its chairman Hugh Hefner:  “With the completion of this transaction, Playboy will come full circle, returning to its roots as a private company.  The brand resonates today as clearly as at any time in its 57-year history. I believe this agreement will give us the resources and flexibility to return Playboy to its unique position and to further expand our business around the world.”  

Click here fore more on this morning’s top stories >

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.

Tagged In

moneygame-us playboy