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FNK IR handles PLBY Group as it rejects a $100M bid by Cooper Hefner and his investment firm for the rights to its Playboy brand.
The unsolicited offer “substantially undervalues” Playboy’s assets, according to PLBY CEO Ben Kohn.
While PLBY’s board understands and is appreciative of the interest in Playboy’s “unparalleled brand,” it will continue to pursue a focused and “asset-light model” to create long-term value for stakeholders.
Hefner is the son of Playboy founder, Hugh. He launched the bid due to his "personal connection" to the brand. The senior Hefner died in 2017 at the age of 91.
PLBY posted a $9.2M operating loss on Q2 revenues of $24.8M.
FNK IR managing director Rob Fink and partner Matt Chesler represent PLBY.
Amsterdam’s CFF Communications handles Accell Group as Europe’s No 1 e-bike and No. 2 bicycle maker declares insolvency after failing to find a buyer.
Randy Sinclair, who rose to lead investor relations at Chevron during an 11-year run, will move to Northrop Grumman on Aug. 10 as VP-IR.
Trailrunner International is handling Axum Capital Partners’ move to acquire a controlling interest in BARCODE, a performance hydration brand, in partnership with NBA All-Star Victor Wembanyama.
Alpha IR and Alpha Advisory Group represent McKinley Acquisition Corp. as it plans to take hostile drone spotter and destroyer Space-Eyes public via a SPAC deal valued at $370M.
FGS Global keeps its position at the top of the heap in Mergermarket’s rankings of the top PR advisors in M&A deals for 1H26.
