Macmillan Inc.’s takeover woes deepened when Coniston...

Macmillan Inc.’s takeover woes deepened when Coniston Partners disclosed that it holds 4.9% of the publishing company’s stock. Coniston also filed an affidavit in Delaware Chancery Court in support of Robert M. Bass Group’s request to halt Macmillan’s restructuring plan. A spokesman for Coniston said the firm does not believe that Macmillan’s reorganization strategy is in “the best interest of the shareholders.” In a letter to Macmillan, Coniston said the intrinsic value of the publishing company’s stock is $85 to $100 a share. Analysts have valued Macmillan’s restructuring plan at $65 to $75 a share.