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.
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
Teamsters statement on the conviction of Derek Chauvin Apr. 21, 2021 | Teamsters Human Rights and Diversity Director Marcus King issued this statement: “The International Brotherhood of Teamsters stand with the family of George Floyd [left] and all of those who fight for racial justice following the Derek Chauvin’s murder conviction today. Though today’s verdict is a positive step in the right direction, this is just one instance of an unwarranted police killing of an unarmed Black man in the United States, and a harsh truth that we must accept – equal justice under the law is not a reality for all Americans…” Continued
Hoffa: American Families Plan helps workers bring balance to daily lives Apr. 28, 2021 | The following is a statement from Teamsters General President Jim Hoffa about today’s unveiling of President Biden’s American Families Plan, a sweeping measure that lifts up hardworking Americans by expanding education opportunities, mandating paid leave, subsidizing child care and health care for low- and middle-income workers and providing tax relief to the middle class. “The modern American family is being pulled in a million different directions that make it increasingly difficult to make ends meet. The current pandemic has especially placed additional strains on women workers…” Continue reading