(Bloomberg) — Ronald Perelman’s MacAndrews & Forbes Inc. is weighing a sale of online coupon company RetailMeNot Inc. as the billionaire reworks his empire, according to people with knowledge of the situation.
RetailMeNot, which compiles online coupon and discount codes, is in talks with would-be bidders about a potential sale that could fetch $500 million to $600 million, said the people, who asked not to be identified discussing a private matter. RetailMeNot hired investment bank Evercore Inc. to serve as its financial adviser to manage the process, the people said.
Photographer: Chris Goodney/Bloomberg
The company hasn’t made definitive plans to sell, and discussions with interested parties including private equity firms are at an early stage, according to the people. Discount drug company RxSaver which is housed under the RetailMeNot umbrella has also been up for sale, Bloomberg reported.