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.”  

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