Meredith Corporation Will Buy Time Inc. for $2.8 Billion in Cash
On Sunday, Meredith Corporation (NYSE: MDP) announced it has reached a binding agreement to buy Time Inc. (NYSE: TIME) for $2.8 billion, or $18.50 per share, in an all-cash transaction. According to Time’s announcement, the share price represents a 46 percent premium over the closing price on November 15, the day before the announcement of a possible deal was made to the media. The boards of both companies have unanimously approved the deal which is expected to close during the first quarter of 2018, subject to regulatory approvals.
Meredith Corporation Will Buy Time Inc. for $2.8 Billion in Cash Read More »
