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According to WSJ, Time (TIME) approached by Meredith Corporation (MDP)

  • November 17, 2017

Meredith Corp. (MDP) has made a takeover bid for storied magazine publisher Time Inc. (TIME) in the range of $17 to $20 a share, according to people familiar with the situation.

Time (TIME) had previously approached Meredith Corporation (MDP) on February 07, 2017. It was unsuccessful since the deal fell short of the price expectations.

Update(s):

November 26, 2017: Time Inc. (TIME) today announced that it has entered into a definitive agreement to be acquired by Meredith Corporation (MDP). Under the terms of the agreement, Meredith will make an $18.50 per share cash tender offer to acquire all outstanding Time Inc. shares for a total transaction value of approximately $2.8 billion, including the assumption of debt and net of cash acquired.