Martha, Martha, Martha! According to Forbes, home and living guru Martha Stewart may be the talk of the stock market after agreeing to sell her 18-year-old empire Martha Stewart Living Omnimedia to retail licensing giant Sequential Brands for a whopping $353 million in cash and stock.
Shares in her company ballooned 40 percent when reports first emerged mid-June, but fell 14 percent once reports were confirmed while Sequential Brands saw a 5 percent gain the same day of the official announcement.
Go big or go home
Still, the multi-million-dollar price tag is a far cry from the $2 billion valuation it was once touted. Martha's own net worth hasn't done much better, having been chopped from the arches of the ever-elite billionaire's club to a mere $220 million.
The 73-year-old will be staying on as Chief Creative Officer following the sale that will see Sequential offering $6.15 a share - a $5 boost from what the company was trading at a week before the announcement.
So, will the deal be enough to help Martha's bankbook bounce back to its former glory? Piece of cake. Maybe. Hopefully.