Big Law
Forbes Cancels Its Plan to Go Public Through a Merger
Business news publication Forbes announced Wednesday that it has pulled the plug on a merger transaction with a specially created investment company as fewer of such deals get completed.
Forbes said that its shareholders had terminated the transaction with Magnus Opus Acquisition Limited. The media company gave no reason for the shift but expressed confidence in its future.
“The Forbes brand is a sought-after and trusted brand with more than 100 years of equity that is synonymous with success and validation,” said Forbes Chief Executive Mike Federle, who pointed to double-digit revenue growth over the past year.
