Tribune sticking with Alden offer for now
Apr. 15, 2021 | Update 4/19: After Wyss backs out, Alden Global regains upper hand in bid for Tribune but Bainum remains committed to purchasing the newspaper chain. The special committee of Tribune Publishing’s board of directors continues to recommend shareholders approve a buyout of the company by Alden Global Capital even as it considers a higher offer from Stewart Bainum Jr. and his business partner, Hansjörg Wyss. In an updated filing Wednesday with the U.S. Securities and Exchange Commission, the newspaper group cited a number of factors in the reasoning to endorse Alden’s deal, valued at about $630 million, over a tentative $680 million offer by Bainum and Wyss… Baltimore Sun

Rival group makes fully financed, roughly $680M bid for Tribune
Apr. 9, 2021 | The Wall Street Journal reports that a special committee of Tribune Publishing’s board has determined that a roughly $680 million, $18.50-a-share bid submitted late last week by Choice Hotels International Inc. Chairman Stewart Bainum and Hansjörg Wyss is reasonably likely to lead to a proposal that is superior to Alden’s $635 million deal, people familiar with the matter said. That is legal deal-speak indicating Alden may need to raise its bid or risk losing the deal.

Swiss billionaire teams up with Bainum to acquire Sun, Tribune
Mar. 29, 2021 | An octogenarian Swiss billionaire who has donated hundreds of millions to environmental causes has entered the bidding for Tribune Publishing, the New York Times reported Saturday afternoon. Hansjörg Wyss, 85, the former CEO of medical device manufacturer Synthes, told the Times Friday that he had agreed to join with Maryland hotelier Stewart W. Bainum Jr.'s previous effort to buy Tribune, an offer that could upend Alden's plan to take full ownership of the company… Crain’s Chicago Business

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