Martha Stewart Living Omnimedia, Inc.NYSE
Buy Martha Stewart Living Omnimedia... Before Someone Else Does
Vince Martin • 15 Comments
Vince Martin • 15 Comments
Dec. 4, 2015, 3:02 PM
Dec. 2, 2015, 2:56 PM
- Martha Stewart Living Omnimedia (MSO +1.5%) says shareholders overwhelmingly approved its plans to merge with Sequential Brands (SQBG +4.2%).
- Shares in MSO have risen to $6.19, just a penny off the $6.20 acquisition price. The company expects the merger will close on Friday.
- Martha Stewart shareholders voted for the merger 271M to about 170,000, and approved a nonbinding vote on compensation to be paid to executive officers on completing the merger deal.
- Sequential is rebounding today after the company earlier this week decided to take on short sellers. Shares had fallen 33% in the past month.
Jun. 26, 2015, 2:28 PM
- Following news that Martha Stewart Living Omnimedia (MSO +0.5%) may be listening to five bidders for the company, activist shareholder Plymouth Lane Capital management disclosed a 10.9% stake in the company and that it would encourage a "timely, proactive and robust marketing process" in order to gather acquisition offers during the go-shop period.
- MSO stock is trading today at $6.42, above the $6.15/share offer from Sequential Brands (SQBG -0.3%).
- The go-shop period was reportedly added to the two companies' agreement after Sequential CEO Yehuda Shmidman leaked deal details early. Now interest is reported from competing bidders, including Iconix (NASDAQ:ICON), Meredith (NYSE:MDP), Global Brands and Authentic Brands.
- MSO chief Martha Setewart owns nearly 49% of the company's class A shares.
- Schedule 13-D
Jun. 25, 2015, 8:42 PM
- Shares in Martha Stewart Living Omnimedia (NYSE:MSO) rose 3.9% today, and another 0.5% after hours, as the prospect of more (maybe several more) bidders for the company emerged today.
- Sequential Brands (SQBG -1.5%) on Monday said it had agreed to acquire MSO for $6.15 a share (about $353M), in a done deal. But The New York Post reported that bidding has reopened for "at least five prospective bidders" as Sequential's CEO Yehuda Shmidman was said to have leaked deal details early.
- That meant having to include a 30-day "go-shop" provision -- and now bidders may include Meredith (NYSE:MDP), which already has licensing for the Martha Stewart magazines; licensing group Iconix (NASDAQ:ICON); Global Brands; and Authentic Brands.
- Sequential's board is reportedly "very disappointed that this occurred and wants to understand how this happened."
- Martha Stewart shares were last quoted at $6.43 after hours, a 4.6% premium to Sequential's offer.
Jun. 18, 2015, 2:57 PM
Dec. 6, 2012, 7:43 PMHaving been unable to find a buyer, Martha Stewart (MSO) is shutting down its healthy-eating magazine "Whole Living." The move comes a little more than a month after the company announced it planned to either sell or shut down the magazine by the end of the year as part of a broader restructuring aimed at cutting costs. It had been reported earlier this week that there were buyers interested in the publication, but apparently the deal fell through. | Dec. 6, 2012, 7:43 PM | 1 Comment
Dec. 7, 2011, 4:43 PMOne possible reason for the indifferent reaction in J.C. Penney (JCP +0.6%) shares to the retailer's new stake in Martha Stewart (MSO +33.3%): Kmart's (SHLD) similar deal with MSO a while back was a disaster. The spike in MSO is harder to explain, since the deal appears to end the "strategic alternatives" it was considering. Were there no good offers, or does Martha refuse to sell? | Dec. 7, 2011, 4:43 PM
Dec. 7, 2011, 8:00 AM
Dec. 7, 2011, 4:50 AM
May 27, 2011, 2:21 PMMartha Stewart Living Omnimedia (MSO +8.4%) could be worth $551M in a potential sale, according to one estimate. At $10/share, that would be more than twice Thursday’s close, but nowhere near the $1.87B the company was worth in February 2005 before its namesake and founder was sent to jail. | May 27, 2011, 2:21 PM | 3 Comments
May 25, 2011, 9:37 AM
Martha Stewart Living Omnimedia (MSO +21.2%) shares jump after announcing that Blackstone has been retained to explore strategic partnership opportunities. The company also announces that Lisa Gersh will become President and COO next month. (PR)| May 25, 2011, 9:37 AM | 2 Comments