Edgar Bronfman Jr. Makes Failed Bid for Time Inc.
Time Inc, the publisher of Time, People and Fortune magazines, has rejected a takeover bid from billionaire investor Edgar Bronfman Jr., the New York Post reported on Monday. Bronfman offered $18 per share, the Post reported, representing a premium of 30.4 percent to Time Inc’s Friday close and valuing the publisher at $1.78 billion. Time…