Forbes Considering SPAC Merger: Report

benzinga2021-04-30

One of the oldest financial media companies is in talks to go public via a SPAC merger.What Happened:Business news companyForbes Media LLCis in talks to go public,according to Reuters. The company is ...

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HuatTrader69
2021-04-30
HuatTrader69
Interesting, exciting times indeed.

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The company is reportedly fielding offers from SPACs and bidders including Borderless Services and a consortium of investors.The group bid is led by investor Michael Moe, who has an existing SPAC withClass Acceleration Corp. Reuters says the bid led by Moe would keep Forbes a private company, ruling out using his SPAC. The Borderless Services bid is for a reported $700 million.Why It’s Important:Forbes is 95% owned by Integrated Whale Media Investments, which purchased the stake seven years ago. 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