Adult content provider and channel operator Playboy has formed a committee to evaluate the takeover proposal lodged by company founder Hugh Hefner. The committee, which will help formulate the companys official response to HefnerÂs offer, comprises LA-based lawyer Sol Rosenthal and Shing Tao, chairman and chief investment officer of private investment group Pacific Star Partners.
Last month Hefner put together a cash offer of US$5.50 (Â3.45) a share for the company, valuing it at about US$185m. Penthouse owner FriendFinder subsequently lodged a higher bid, but that would require Hefner to sell his stock in Playboy.
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