Zell Expected To Win Bid for Tribune Co.
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Tribune Co., owner of the Los Angeles Times and Chicago Cubs, 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. 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. Zell’s offer of $33 a share is 6.8% above Monday’s close. The offer was competing with the company’s plan to reorganize, as well as other less-attractive bids.
