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Martha Stewart Living Has Multiple Bidders, NY Post Says

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Martha Stewart Living Omnimedia, Inc. (NYSE: MSO) has five bidders, according to the New York Post.

Martha Stewart Living was in the process of being sold to Sequential Brands Group Inc (NASDAQ: SQBG) for $353 million, a story that Sequential's CEO, Yehuda Shmidman, leaked. However, with that news out before it was finalized, Martha Stewart apparently negotiated the opportunity to solicit higher bids for 30 days.

Now, according to the NY Post, Meredith Corporation (NYSE: MDP) and Iconix Brand Group Inc (NASDAQ: ICON) are among potential new suitors.

The NY Post also reported that it was the headline that accompanied the Sequential leak that "miffed" Stewart. That headline was: "Martha Stewart's New Boss: Yehuda Shmidman."

Martha Stewart Living is trading at $6.50, up 5.5 percent on the session. The stock is below its initial spike higher from when the Sequential news broke, put shares up at $7 apiece. Year-to-date, the stock gained 47.8 percent and trades at its highest level since 2009.

 

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Posted-In: Martha Stewart Living New York PostM&A News Rumors

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