Storer elaborated on its merger proposal.

Storer Communications, which agreed to a buy-out proposal by Kohlberg, Kravis, Roberts & Co. earlier this week, disclosed a total exercise price of $100 million for warrants to be issued to Storer shareholders, along with $75 in cash and $25 in preference stock for each share of Storer common stock. Separately, a Connecticut judge ruled that a dissident group of Storer shareholders could continue to solicit proxies but must apply for certain state permits by May 1, according to one attorney familiar with the court proceedings. Storer had sought an injunction in the state court to halt the proxy solicitation.