Tribune Sets Aug. 21 Shareholder Meeting To Approve Zell Deal

By: E&P Staff

Tribune Co. said late Monday that the special shareholders meeting to put its going-private deal up for approval will be held Aug. 21.

The meeting will be held in Chicago, but the exact location and time will be disclosed in proxy materials that will be filed with the U.S. Securities and Exchange Commission later this month, Tribune said.

The vote is certain to approve the $8.2 billion deal engineered by Chicago real estate mogul Sam Zell to take Tribune private through an employee stock option plan (ESOP). In June, as part of the two-step process to going private, Tribune bought back about 52% of shares outstanding in a tender offer that was oversubscribed, with shareholders offering 90% of shares outstanding.

Tribune said shareholders of record at the close of business on July 12 will be entitled to vote at the meeting.

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