Tribune Co. prepared Thursday to close its $8.2-billion deal to go private, triggering regulatory waivers and pulling $500 million in cash out of its coffers to reduce the amount it needed to borrow.
The stock jumped nearly 8% to close at $32, its highest price in six months, as Wall Street skeptics finally seemed to acknowledge that the deal was likely to close this year after all, and at the announced $34 price.
Keep reading (registration may be required)
Start your workday the right way with the news that matters most. Learn more