Hallmark Sweetens Bid for Univision Buyback: Hallmark...
From Times Staff and Wire Reports
Hallmark Sweetens Bid for Univision Buyback: Hallmark Cards Inc. sweetened the terms of its proposed buyback of $270 million in junk bonds issued by its Univision Holdings Inc. subsidiary after its first offer received a very chilly response. Under the revised offer, Hallmark would pay about 49 cents on the dollar for the two series of securities, up from about 39 cents on the dollar under the initial offer. But the Kansas City, Mo.-based greeting card company warned that if the tender offers are unsuccessful, Univision will file for protection from its creditors under Chapter 11 of the U.S. Bankruptcy Code.
