NEW YORK (TheStreet) -- Shares of Martha Stewart Living Omnimedia (MSO) are higher by 5.52% to $6.50 in pre-market trading on Thursday morning, as the New York Post reports that the company is being pursued by five possible bidders.
However, insiders told The Post that the CEO of the consumer brand company, Yehuda Shmidman, leaked the deal before it was finalized.
"It went from being a locked-up, no-shop deal to a completely renegotiated, go-shop deal over the weekend," a source told The Post.
Other companies said to be interested in Martha Stewart Living are Meredith Corp., Iconix, Global Brands, Li & Fung, and Authentic Brands, The Post noted.
Insight from TheStreet's Research Team:
TheStreet's David Peltire commented on Martha Stewart Living Omnimedia in a post today on Stocks Under $10. Here is a snippet of what Dave had to say:
We agree that the initial bid from Sequential appeared low, but we see a 50% chance at best that a competing bid could trump the original offer. We maintain our Two rating on the stock, as $6.15 should be the floor for the next four weeks, as Martha Stewart is free to entertain other bids.
-David Peltier 'Martha Stewart Attracting More Suitors?' Originally Published on 6/25/15 on Stocks Under $10.
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Separately, TheStreet Ratings team rates MARTHA STEWART LIVING OMNIMD as a Hold with a ratings score of C-. TheStreet Ratings Team has this to say about their recommendation:
"We rate MARTHA STEWART LIVING OMNIMD (MSO) a HOLD. The primary factors that have impacted our rating are mixed-some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its solid stock price performance, increase in net income and largely solid financial position with reasonable debt levels by most measures. However, as a counter to these strengths, we also find weaknesses including disappointing return on equity and weak operating cash flow."
You can view the full analysis from the report here: MSO Ratings Report