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Exclusive: Forbes pursues SPAC talks amid new takeover interest - sources
By Joshua Franklin, Krystal Hu and Echo Wang
Reuters
NEW YORK (Reuters) - Business news and information publisher Forbes Media LLC is in talks to go public through a merger with a special purpose acquisition company (SPAC) as it attracts new acquisition interest, people familiar with the matter said on Thursday.
Forbes owner is also fielding offers worth up to $700 million from bidders including a consortium led by tech investor Michael Moe and another offer from investment vehicle Borderless Services Inc, the sources said. Both of these bids would result in Forbes remaining a privately held company.
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The logo of Forbes magazine is seen on a board at the St. Petersburg International Economic Forum 2017 (SPIEF 2017) in St. Petersburg, Russia, June 1, 2017. REUTERS/Sergei Karpukhin
Business news and information publisher Forbes Media LLC is in talks to go public through a merger with a special purpose acquisition company (SPAC) as it attracts new acquisition interest, people familiar with the matter said on Thursday.
Forbes owner is also fielding offers from bidders including investment vehicle Borderless Services Inc, which has bid $700 million, and from a consortium led by tech investor Michael Moe, the sources said. Both of these bids would result in Forbes remaining a privately held company.