Bronfman, Kreiz Floated All-Cash Offer in Range of $18-$20/Share for Time (TIME) - Bloomberg, Citing Letter

November 28, 2016 12:58 PM EST

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Edgar Bronfman Jr. and Ynon Kreiz, backed by Access Industries, approached Time (NYSE: TIME) with an all-cash offer in the range of $18 to $20 per share, according to Bloomberg, citing an Oct. 20 letter to Time's board.

The report confirms an earlier New York Post story on the rejected takeover offer.

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