Founder Hugh Hefner, who controls Icon, plans on taking Playboy private along with investment firm Rizvi Traverse Management LLC.
Previous to today's tender offer, Hefner owned about 70 percent of Playboy's Class A common stock and 28 percent of its nonvoting Class B stock.
The transaction values the company at about $207 million, topping Hefner's offer of $5.50 per share in July, though just shy of an offer made by FriendFinder Networks that's valued at $210 million.
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