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Time Inc. to Be Acquired by Meredith Corporation

Nov 26, 2017 - Business Wire
Board and Executive Moves-Mergers and Acquisitions

Time Inc. (NYSE:TIME) today announced that it has entered into a definitive agreement to be acquired by Meredith Corporation (NYSE: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. The transaction has been unanimously approved by the Boards of Directors of Meredith and Time Inc., and is e...