Hearst May Not Be Buying Elle After All

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Photo: Courtesy of Elle

Rumors that Hearst wants to purchase a controlling stake in Elle have been floating around for a while, but now it looks like there’s another offer on the table. Germany’s Bauer Publications reportedly wants to buy the publishing portfolio of Lagardère (Elle’s French owner) for somewhere between $850.3 million and $915.7 million. Meanwhile, investors are already trading Lagardère’s stock up 4.9 percent in anticipation of a deal. [Racked]