Shares in The Tribune Company (TRB) are off almost 4% today to $24.57. The price promised for an LBO lead by Sam Zell is $34.
The deal is now likely to die, in which case the public shareholders can hang onto the company, probably with the stock falling further.
Or, Zell can renegotiate in much the same way the the buyers of Home Depot (HD) Supply have. The debt needs to deal of this kind has simply gotten too expensive.
Zell’s best bet may be to walk. Dow Jones (DJ) announced yesterday that ad lineage at The Wall Street Journal fell almost 21%.
And, Zell can read the papers.
Douglas A. McIntyre
Want to Retire Early? Start Here (Sponsor)
Want retirement to come a few years earlier than you’d planned? Or are you ready to retire now, but want an extra set of eyes on your finances?
Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help you build your plan to retire early. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.
Have questions about retirement or personal finance? Email us at [email protected]!
By emailing your questions to 24/7 Wall St., you agree to have them published anonymously on a673b.bigscoots-temp.com.
By submitting your story, you understand and agree that we may use your story, or versions of it, in all media and platforms, including via third parties.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
