London
(ANI):
Hugh
Hefner
has
made
a
bid
to
take
Playboy
Enterprises
private.
Hefner
has
plans
to
buy
all
the
shares
he
doesn"t
own
currently,
for
5.50
dollars
a
share
in
cash,
valuing
the
company
at
around
185
million
dollars
-
a
premium
of
about
40pc
to
its
closing
price
of
3.94
dollars
on
Friday.
He
already
owns
around
69.5pc
of
Playboy's
ordinary
shares
and
27.7pc
of
its
B
shares.
According
to
The
Telegraph,
Hefner
will
partner
with
Rizvi
Traverse
Management
to
raise
the
finances
from
major
lenders.
The
company
explained
that
Hefner,
as
per
his
proposal
letter,
was
not
interested
in
a
sale
or
merger
of
Playboy
Enterprises,
selling
his
shares
to
someone
else,
or
entering
into
talks
with
other
financial
sponsors
to
do
a
similar
deal.