Ah, to be on the outside looking in. Word that Eli Broad and Ron Burkle are jointly submitting a bid to acquire all of Tribune, not just the LAT, is the latest plot twist in this quickly unfolding story. If only we all knew what was really going on. So far, all that's been reported is that an offer has been made through affiliates of Broad's investment company and Burkle's Yucaipa Cos., which is his investment arm. Nothing about price. In case you're wondering, Tribune was up $0.86, closing at $32.48 - about what the private equity guys were said to be offering at the end of October. Presumably, Broad/Burkle are willing to pony up more - enough for the Chandlers and the other major shareholders to get interested. Everybody has the story, which was first broken by the LAT. Here's E&P's version.
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