ABC Money
Home

L.A. billionaires up bid for Tribune Co.


Published : Fri, 30 Mar 2007 01:39
By : Agencies
Print this Story

AddThis Social Bookmark Button

LOS ANGELES (AP) - Billionaires Eli Broad and Ron Burkle upped their bid Thursday for Chicago-based media company Tribune Co., offering a total deal that would exceed that currently being offered by real estate magnate Sam Zell, a person familiar with the offer told The Associated Press.

Broad and Burkle sent a letter to the Tribune board offering $34 per share in a recapitalization scheme that would involve an employee stock ownership plan, said the person who asked to remain anonymous because they were not authorized to disclose details.

The two Los Angeles billionaires also offered to contribute $500 million in cash to he deal.

The offer exceeds Zell's bid of $33 per share.

Copyright 2007 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Share on


 You Might Like
Chandler deadline on Trib bid extended
Ahead of the Bell: Tribune
+
Tribune's February revenues decline
Report: Zell a potential Tribune bidder

Comment on this Article
Comment:
Title:
Name:
Please Enter
 
Here
  

 Search News

 Look For
Business
Credit cards
Finance
Loans
Money
Mortgages

 
 Stock Quotes *
SYMBOL
LAST
CHANGE
DOW JONES
8769.70
-245.40 ( -2.73 %)
NASDAQ
1599.06
-53.32 ( -3.29 %)
FTSE 100
4422.31
-85.20 ( -1.89 %)

SYMBOL ( 2009-01-08 )
LAST
CHANGE
RECKITT BENCKISER ( 7:56am )
2708.00
+28.00 ( 1.05 %)
NORTHERN ROCK ( 11:35am )
182.00
+19.04 ( 11.20 %)
SCOTTISH & SOUTHERN ENERGY ( 7:55am )
1174.00
+15.00 ( 1.31 %)
BRITISH AMERICAN TOBACCO ( 7:55am )
1766.00
+12.00 ( 0.69 %)
PERSIMMON PLC ( 7:56am )
290.00
+10.25 ( 3.61 %)

SYMBOL ( 2009-01-07 )
LAST
CHANGE
VERIZON COMMUNICATIONS INC ( 4:00pm )
31.90
+0.40 ( 1.26 %)
COCA COLA CO ( 4:00pm )
44.93
+0.22 ( 0.50 %)
GENERAL MOTORS ( 4:00pm )
4.13
+0.19 ( 4.74 %)
ALTRIA GROUP INC ( 4:02pm )
15.09
-0.06 ( -0.40 %)
AMERICAN INTERNATIONAL GROUP INC ( 4:04pm )
1.64
-0.10 ( -5.81 %)

SYMBOL ( 2009-01-07 )
LAST
CHANGE
MITSUI & CO LTD ( 3:59pm )
220.00
+10.00 ( 4.83 %)
COMM BANCORP INC ( 9:30am )
39.48
+4.47 ( 11.32 %)
CRUCELL NV ADS ( 3:47pm )
20.50
+4.43 ( 27.95 %)
ISRAMCO INC ( 1:42pm )
31.25
+4.39 ( 14.49 %)
NETSCOUT SYSTEMS I ( 4:00pm )
13.29
+3.05 ( 24.74 %)

Gainers & Losers
Dow Jones
Euro Stoxx 50
FTSE 100
FTSE 250
FTSE AIM
FTSE ALL
Nasdaq

 Portfolio Manager

You must log in to access this area of the site. If you are not a registered user click here to sign up for instant access!

 Finance Explained

Money making ideas

Save money
Money management
Savings accounts
Investing money
Share dealing
Stock broker
Forex currency trading
Pension plans
Functions of Money

(c) 2007 ABCmoney.co.uk, All Rights Reserved
*ABCMoney.co.uk does not guarantee the accuracy of any share prices or stock quotations displayed. These are not real time quotes; all are delayed by at least twenty minutes and are for information purposes only.