Friday, June 22, 2007

Market confidence slipping on complex Zell deal

Chicago Tribune – Following Tribune's announcement late Wednesday that May revenues had fallen 11.1 percent -- bringing the year-to-date decline to 5.6 percent -- the company's stock lost 1.3 percent to close at $29.57 Thursday, or 13 percent below the $34 price Tribune pledged to pay for its shares outstanding.
"It's an indicator that the market's appetite for the deal is waning," Donnelley said.

Investors aren't the only ones anxious about this deal. Employees are too. We've noted a significant increase in page views to our posts on the ESOP here and here. (end of post)

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