(Bloomberg) -- Sam Zell's agreement to buy Tribune
Co., the publisher of the Los Angeles Times and owner of the
Chicago Cubs, prompted three hedge funds to seek profits in the
fine print of $1.26 billion of bonds.
It's a tactic bondholders have successfully used before.
Blackstone Group LP paid $953 million to redeem debt earlier
this year, $127 million more than it first offered, after
getting attacked by investors in the $20 billion leveraged
buyout of Equity Office Properties Trust. American International
Group Inc. is leading an effort to squeeze Tyco International
Ltd. for an additional $95 million before approving its breakup
plan.
Read more at Bloomberg Bonds News
Co., the publisher of the Los Angeles Times and owner of the
Chicago Cubs, prompted three hedge funds to seek profits in the
fine print of $1.26 billion of bonds.
It's a tactic bondholders have successfully used before.
Blackstone Group LP paid $953 million to redeem debt earlier
this year, $127 million more than it first offered, after
getting attacked by investors in the $20 billion leveraged
buyout of Equity Office Properties Trust. American International
Group Inc. is leading an effort to squeeze Tyco International
Ltd. for an additional $95 million before approving its breakup
plan.
Read more at Bloomberg Bonds News
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