Posts with tag media ownership
Posted Oct 19th 2007 2:10PM by Paul Foster
Filed under: Deals, Taxes and regulations
Tribune (NYSE: TRB) is recently down $1.42 to $26.50. Sam Zell announced on 4/2/07 his group would pay TRB shareholders $34 per share. The closing has been expected to occur in the fourth quarter of 2007. The Chicago Tribune reported, "A sudden uproar on Capitol Hill over media ownership rules might disrupt TRB's chances of getting the temporary cross ownership waivers needed to complete its planed $8.2 billion deal to go private." TRB November option implied volatility of 50 is above its 26-week average of 28 according to Track Data, suggesting larger price risks.
Daily M&A Update is provided by Stock Specialist Paul Foster of theflyonthewall.com
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