Hugh Hefner Plans On Going Private By Offering To Buy All Outstanding Playboy Stocks

August 2nd, 2010 - 7:52 pm ICT by Pen Men At Work  

August 2, 2010 (Pen Men at Work): It seems that Hugh Hefner wants to talk about movies. The publishing giant presently in his eighties is keen to discuss the documentary made on him and aptly titled ‘Hugh Hefner: Playboy, Activist and Rebel’. The film was made by Brigitte Berman who had full access to the archives of Hefner. Berman had won the Oscar for the best documentary back in 1987 for her movie ‘Artie Shaw: Time Is All You’ve Got’.

The 84 year old Hefner is now preoccupied with his legacy. He confessed that it was this thought which was predominantly behind the offer for taking the Playboy, private. He has been interested in buying all the outstanding shares of the company.

Hefner said that he believes that the stocks of Playboy are undervalued. He added that it was much less expensive to be private and is interested in protecting the legacy of the magazine. He had just celebrated his birthday and is now looking forwards to the future, he concluded. He also stated that he is trying to adopt the best method possible for everyone concerned. The stocks have actually been spiraling downwards which is exactly what a lot of other companies have been experiencing recently.

The public shares that PLA or Playboy Enterprises has currently have been offered to be taken over by Mr. Hugh Hefner who would be assisted by a private equity company known as Rizvi Traverse Management. Hefner’s offer of $5.50 per share is considered to be generous for the stockholders as it is a 40% premium over the actual stock price as seen during the trading, last Friday.

He was, however, more than eager to discuss the movie which he said was all about the other side of him. He is reported to have stated that he is trying to make a difference to the world.

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