BellSouth Terminates Lin Offer: BellSouth Corp. agreed...
From Times Staff and Wire Reports
BellSouth Terminates Lin Offer: BellSouth Corp. agreed to terminate the proposed merger of its cellular telephone interests with those of Lin Broadcasting Corp., clearing the way for McCaw Cellular Communications Inc. to buy a controlling interest in Lin for $3.38 billion. Lin last week asked BellSouth to terminate its September agreement for merging the cellular telephone operations in a non-cash deal. Lin recommended that its shareholders approve McCaw’s latest offer. BellSouth said it was not prepared to wage a bidding war.
