Playboy Shares Popped: What You Need to Know (PLA)

Playboy Shares Popped: What You Need to Know

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Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: For lack of appropriate puns, I'll simply say that shares of Playboy (NYSE: PLA ) traded higher by 17% in intraday trading.

So what: Today's gains came as founder Hugh Hefner raised his bid to take the company private, and Playboy's board approved the deal. The offer will put $6.15 per share in the hands of current shareholders and values the company at $207 million.

Now what: A bidding war for Playboy was kicked off over the summer when FriendFinder Networks -- owner of rival Penthouse magazine -- bid $210 million for the company. While Hefner's offer was lower than FriendFinder's, it seems relatively unlikely that FriendFinder will challenge the deal given questions over the veracity of the original offer and the fact that Hefner already owns a very significant chunk of the company.

Want to keep up to date on Playboy? Add it to your watchlist.

The Steve Jobs Betrayal
You may already know that in the final year of his life, Jobs revealed a stunning betrayal — and told his biographer, "I will spend my last dying breath... and every penny of Apple's $40 billion in the bank to right this wrong." What was it that made Jobs so irate — and why could it make a few in-the-know investors some major profits over the coming months and years?

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