Liz Hoffman of Semafor writes about what’s happening at Bloomberg LP, the parent of Bloomberg News, Bloomberg Media and Bloomberg Television.
Hoffman reports, “Some clues: Executives from the company have been having preliminary talks with investment bankers about a potential IPO or other transaction, people familiar with the matter said. The conversations were described as informal, and C-suite executives at Bloomberg have given little indication of what the former New York City mayor’s plan is, or if he has settled on one at all.
“The 84-year-old Mr. Bloomberg recently transferred some of his personal stock in Bloomberg LP to Bloomberg Philanthropies, other people familiar with the matter said — a move that would minimize taxes if the company went public or sold a stake.
“Mr. Bloomberg has previously said he plans to transfer the business to his foundation. It couldn’t be determined how often, if ever, he has made similar stock transfers. He owns an estimated 88% of Bloomberg LP, according to Forbes, which pegs the company’s annual revenue at $15 billion and his personal fortune at $109 billion, ranking him among the top 20 richest people in the world.”
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