By: E&P Staff
Bloomberg News reports tonight that Tribune Co., owner of the Los Angeles Times and other papers and TV stations, “will probably accept real estate billionaire Sam Zell’s $8 billion takeover offer by the end of the week, according to people familiar with the matter.”
This is not yet confirmed by others.
“An agreement is likely by Tribune’s self-imposed deadline of March 31, said the people, who declined to be named because no decision has been made,” Bloomberg continues. Zell’s offer of $33 a share is 6.8 percent above yesterday’s close.
Zell spokeswoman Terry Holt didn’t immediately return a call from Bloomberg seeking comment. Tribune spokesman Gary Weitman declined to comment.