July 14: Hugh Hefner's probably never read an opinion from the Delaware Court of Chancery in his life, but a recent decision by Vice Chancellor J. Travis Laster may affect Hefner's bid for Playboy Enterprises Inc., which is incorporated in Delaware. - David Marcus

July 14: FriendFinder Networks Inc., the owner of Penthouse, will officially announce tomorrow that it's going to make a bid for Chicago-based Playboy Enterprises that's expected to be higher than Hefner's $185 million offer to take the publisher of Playboy magazine and the patent holder of the iconic bunny logo private. - Anthony Noto

July 12: Hugh Hefner offers to take Playboy Enterprises Inc. private in a deal that values the Chicago adult magazine he founded at about $185 million. Hefner, who already owns 69.5% of Playboy's Class A common stock and 27.7% of its Class B common stock, offered to acquire the shares he does not already own in both classes for $5.50 apiece in cash. - Demitri Diakantonis