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The publisher of Playboy magazine said Monday it has agreed to a sweetened offer by founder Hugh Hefner to take the company private. The price of $6.15 a share is an 18 percent premium over Friday's closing price and values the company at about $207 million. The bid tops Hefner's offer of $5.50 per share in July.
Hugh Hefner wants to buy out the portion of the Playboy empire he doesn't already own in a bet that the iconic brand can still bring in profits even if the ink-on-paper magazine is past its prime.