It took some time after a deal was reached, but Hugh Hefner has officially succeeded in taking his baby Playboy private once again. Class A shares in Playboy were suspended from public trading as of yesterday, and Class B shares will follow suit at the market’s close today. Once the deal is officially wrapped up, Hef will own 37% of the company.
Hef cut a deal in January, in partnership with a group calling itself Icon Acquisition Holdings, L.P., to purchase all outstanding stock in Playboy for $6.15 per share.
Previously on Fishbowl LA: Hef Is Taking Playboy Private