McCaw May Restructure Bid: McCaw Cellular Communications...
From Times Staff and Wire Reports
McCaw May Restructure Bid: McCaw Cellular Communications said it would consider restructuring its proposal to acquire a majority of Lin Broadcasting to make the tax consequences more advantageous to Lin holders if Lin’s management would agree to a friendly takeover by McCaw. McCaw, which launched a hostile takeover plan in June, said such a restructuring wouldn’t fundamentally change its most recent sweetened $150-a-share offer for a majority of Lin, but Lin holders would pay less in taxes on proceeds from the sale of their shares.
