Deals Rumor Mill: Time, Canyon Bridge Capital, Portsmouth
By Benjamin Horney ( March 24, 2017, 5:07 PM EDT) -- A sale of magazine publisher Time Inc. is inching ever closer, with Bloomberg reporting on Friday that the company is nearing a deal that could value it at more than $20 per share. According to the report, it's appearing more likely that a sale of Time in its entirety is how this will all end, although it's possible no agreement is inked before the middle of next month. Meredith Corp. and a group that includes Pamplona Capital Management and the top executive of Najafi Cos. are among those still vying to acquire Time. An offer of more than $20 per share would value Time at about $2 billion, the report said, and Meredith is currently viewed as the frontrunner. Reports that a sale of Time was imminent have persisted since earlier this month. ...
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