CHICAGO — Playboy Enterprises Inc. says its board of directors has formed a special committee to consider founder Hugh Hefner’s proposal to buy out the company.

The committee will consist of attorney Sol Rosenthal and investor Shing Tao. Rosenthal will serve as chairman of the special committee.

Hefner offered on July 9 to buy all the company’s outstanding shares of Class A and Class B stock for $5.50 a share. The company says no decisions have been made about the offer, and there’s no guarantee any agreement will be reached.