Papers get second chance to do a deal

Article Abstract:

Torstar Corp. has launched a hostile takeover bid for Sun Media Corp., offering to buy all of the common shares of the latter for C$16 per share or a total of C$748 million in cash and stock. The acquisition bid represents the second for Torstar, whose merger proposal with Sun Media in summer of 1998 failed after the latter preferred the deal offered by rival Southam Inc. Sun Media CEO Paul Godfrey declined to comment on Torstar's bid, saying the matter will be presented first to the board of directors of his company in a meeting set on Oct. 29, 1998.

Comment:

Launches hostile takeover bid for Sun Media Corp, offering to buy firm for a total of C$748 mil

Canada, Acquisitions & mergers, SunMedia Corp., Torstar Corp., Article

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Hollinger beats earnings estimates

Article Abstract:

Chicago, Ill.-based Hollinger International Inc., the newspaper giant owned by Conrad Black, reported first quarter profits of $15.2 million in 2000. Hollinger International is planning to sell some of its 300 newspaper holdings.

United States, Sales, profits & dividends, Finance, Hollinger International Inc., HLR

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