Hugh HEfner

A fundraiser at Los Angeles' Playboy Mansion earlier this month may have caused dozens of attendees to become ill with flu-like symptoms, respiratory problems and pneumonia, the Los Angeles Times reported Monday, citing Los Angeles public health officials.

Companies such as Duke Energy and DuPont are off and running with megamergers early this year. Even Playboy is among the dealers. And market pros say the trend is far from over. Why are so many U.S. companies tying the knot? Fast growth is hard to come by in any other strategy.

For more than a year, adult entertainment company Playboy Enterprises has been looking for someone to save it, but in the end, its savior came from within. Last July, founder Hugh Hefner offered to take Playboy private, and Monday, the company finally announced that it has agreed to his offer.

Playboy Enterprises, which founder and major shareholder Hugh Hefner wants to take private, reports that its second-quarter loss eased as gains in its licensing business offset declines in publishing.

Colonel Sanders pulled it off, and so has Steve Jobs. Yet few companies allow one individual to represent their brand. Why not? The risks are large, and, well, few CEOs are actually good at it.

Hugh Hefner's offer to buy all of Playboy Enterprises and take it private may look like a slam-dunk because he already owns so much of it. Not so. Some big shareholders say it's a low-ball bid, and already FriendFinder has made a higher offer.

Playboy has missed the Internet revolution, resulting in a dismal performance for shareholders. Web adult entertainment network and Penthouse owner FriendFinder wants to buy the company for at least $210 million -- a chance for Playboy to get online assets.

When the FCC decided in 2004 to start fining broadcasters over the use of fleeting expletives, the agency became a caricature of a state censor. Now, the Second Circuit has ruled that the 'indecency' policy was unconstitutionally vague. So what's next for dirty words?

Taking Playboy Enterprises private could put the company and its valuable brand back on a path to growth while allowing Hefner to select his successor. Says one analyst: "There's really no upside to being public for them."

Playboy Enterprises has received a proposal from Hefner to acquire all of the outstanding shares of common stock that he doesn't currently own for $5.50 per share in cash. PLA closed at $3.94 Friday. And Penthouse's owner may also bid.