Tribune Takeover Offers Expected Today
October 27, 2006 at 6:04 AM (PT)
Initial offers for a takeover of TRIBUNE CO. are expected to be submitted by investment firms today (10/27). The nonbinding proposals are not expected to result in formal bids, with analysts considering separate sales of certain assets and a subsequent move to take the company private as more likely.
Among possible bidders are a partnership of MADISON DEARBORN PARTNERS, APOLLO MANAGEMENT, PROVIDENCE EQUITY PARTNERS, the CARLYLE GROUP, BAIN CAPITAL, and a TEXAS PACIFIC GROUP-THOMAS H. LEE PARTNERS coalition. TRIBUNE owns Talk WGN-A/CHICAGO.