Weinstein leads Miramax bidding with $600 million offer

Key factor: Increased offer is all cash

By TheWrap Apr 12, 2010 1:28PM

The Weinstein Co. appears to have moved into prime position to acquire Miramax from the Walt Disney Co. after a weekend meeting at Disney chief Bob Iger’s home, where the independent distributor upped its bid to all cash, TheWrap has learned.


TWC co-chairman Harvey Weinstein and a representative for his billionaire backer, Ron Burkle, met over the weekend at Iger’s home in Brentwood, Calif., to try to seal the deal, according to two knowledgeable individuals.


Weinstein has increased its bid to an all-cash offer of $600 million, hitting the bar that was important to Disney.


There are two other bidders in the process, Alec and Tom Gores from Platinum Equity, and beleaguered financier David Bergstein with a Saudi investor and Deutsche Bank.


Bergstein's offer is believed to be higher than TWC's, but the Gores' bid was all cash.


More to read:


0Comments

DATA PROVIDERS

Copyright © 2014 Microsoft. All rights reserved.

Fundamental company data and historical chart data provided by Morningstar Inc. Real-time index quotes and delayed quotes supplied by Morningstar Inc. Quotes delayed by up to 15 minutes, except where indicated otherwise. Fund summary, fund performance and dividend data provided by Morningstar Inc. Analyst recommendations provided by Zacks Investment Research. StockScouter data provided by Verus Analytics. IPO data provided by Hoover's Inc. Index membership data provided by Morningstar Inc.

STOCK SCOUTER

StockScouter rates stocks from 1 to 10, with 10 being the best, using a system of advanced mathematics to determine a stock's expected risk and return. Ratings are displayed on a bell curve, meaning there will be fewer ratings of 1 and 10 and far more of 4 through 7.

118
118 rated 1
270
270 rated 2
472
472 rated 3
714
714 rated 4
624
624 rated 5
608
608 rated 6
623
623 rated 7
445
445 rated 8
319
319 rated 9
125
125 rated 10
12345678910

Top Picks

SYMBOLNAMERATING
AAPLAPPLE Inc10
ATVIACTIVISION BLIZZARD Inc10
BIDUBAIDU Inc10
BMYBRISTOL-MYERS SQUIBB CO.10
CELGCELGENE CORP10
More

VIDEO ON MSN MONEY

ABOUT

Top Stocks provides analysis about the most noteworthy stocks in the market each day, combining some of the best content from around the MSN Money site and the rest of the Web.

Contributors include professional investors and journalists affiliated with MSN Money.

Follow us on Twitter @topstocksmsn.