Time Inc. has reportedly hired bankers to help field takeover offers -- and the stock is up 4%

Time Inc has hired Morgan Stanley and Bank of America to help it deal with takeover offers, CNBC reports, citing Dow Jones.

The stock jumped nearly 7% on the news.

Time Inc was reportedly approached by the billionaire investor Edgar Bronfman Jr. in November but rejected the takeover offer.

More to come…

NOW WATCH: AT&T CEO: Trump is a ‘positive development’ for our industry

Business Insider Emails & Alerts

Site highlights each day to your inbox.

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