Axel Springer, others interested in Forbes: report
(Reuters) - Forbes Media, the company known for its namesake magazine and ranking the world's richest people, has caught the attention of six different companies including Germany's Axel Springer, according to a report in the Wall Street Journal.
Other interested companies, the Journal said, include Chinese investment company Fosun International; Spice Global, an investment conglomerate based in Singapore; private equity firm Oxley Group in Singapore; investment management company Whale Capital Group in China; and the president of Forbes conferences, Jack Laschever who is leading an investment group.
A spokeswoman for Forbes, which is privately owned, declined to comment.
A representative of Axel Springer, publisher of Germany's biggest selling daily newspaper Bild, also declined to comment.
Representatives for Fosun, Spice Global and the Oxley Group could not immediately be reached for comment. Whale Capital could not be reached to comment. Laschever was also not immediately available.
The Forbes family announced it was putting the media company up for sale in November. The family, along with private equity firm Elevation Partners, hopes to fetch between $400 million and $500 million, Reuters quoted a person familiar with the matter as saying at the time. Elevation Partners owns a 45 percent stake in Forbes.
It is not clear how much the parties are willing to bid, the Journal said.
JACKSON HOLE Wyoming - Federal Reserve officials are cautiously nearing completion of a new plan for managing interest rates, concerned that some of the new tools they are likely to rely on could pose unintended risks in a crisis.
BEIJING/HONG KONG - China reiterated its opposition on Thursday to a European Union plan to limit airline carbon dioxide emissions and called for talks to resolve the issue a day after its major airlines refused to pay any carbon costs under the new law.