Broadway producer Howard Kagan said he has raised his last-minute bid for the Weinstein Company in another push to acquire the TV and film producer, which filed for bankruptcy in the wake of harassment claims against co-founder Harvey Weinstein, Reuters reported. The Weinstein Co. on Tuesday selected Lantern Capital’s $310 million bid for the company and rejected an offer from Kagan that he said was worth $315 million. Kagan’s initial bid, made through his Inclusion Media LLC business, lacked a deposit and financing, according to the Weinstein Co. “We have increased our offer to $325 million, matching Lantern’s cash bid and providing the cash needed to satisfy Lantern’s alleged breakup fee claims,” Kagan said yesterday. Kagan has not yet made a deposit or shown he has committed financing for his new bid. The money raised from the sale will be used to pay off the Weinstein Co’s creditors. Kagan said his bid would include compensation for harassment plaintiffs.
