China-based Fosun International Ltd is the most likely acquirer of Forbes Media Llc but will be paying less than $250 million for the money management magazine, according to sources interviewed by The Deal Pipeline.
New York, US-based firm Forbes Media attracted the attention of six different bidders including Germany-based multimedia company Axel Springer.
Owners of Forbes Media is reportedly seeking $400 million to $500 million in its sale. However, sources value the Forbes magazine and Forbes.com publisher at $200 million given its EBITDA of $20 million last year.
A peHUB report said private equity firms may pass up on the acquisition of Forbes Media which has put itself up for sale for at least USD 400 million.
New York-based financial magazine publisher Forbes Media hired Deutsche Bank to explore the sale of the company, which could potentially be valued between USD400 million and USD500 million.
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