Penton Media Sale Process Ongoing; At Least 10 Bids

The B2B trade media firm Penton Media, which has put itself for sale, has seen good interest from buyers, Folio reports, and the first-round bids were due at the end of last week from companies interested. At least 10 companies submitted formal bids, with the amounts ranging from $500 million and up…the bids came primarily from private equity firms. Of course, the price being bandied around could be pure media manipulation as well.
The company has seen some bad times over the last few years, though it has been turned around to some extent recently, and the bid price, considering that, seems high, the story says.
Related: Penton’s Up For Sale; Hires Banker

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