A shareholder has made a takeout bid for quirky Media Arts Group, but given today’s anemic high yield market, sources have questions surrounding a potential buyout. In a letter included in an Oct. 18 13D filing, self-proclaimed “Painter of Light” Thomas Kinkade has made a $6.25-per-share, or $40 million, bid for the 49% of the company he doesn’t own. In the filing, he noted that approximately $63 million must be raised to finance the takeout.
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