Hallmark Drops Condition for Tender Offer: Hallmark...
From Times Staff and Wire Reports
Hallmark Drops Condition for Tender Offer: Hallmark Cards, in a move that apparently averts bankruptcy for its troubled Univision Holdings Inc. unit, has dropped a key condition of a tender offer for $270 million in junk bonds issued by the Spanish television network. Hallmark offered to pay $131 million for two series of junk bonds on which its Univision unit had missed interest payments. But the offer was conditioned on Hallmark getting 90% of those two bond issues tendered. Hallmark has now dropped that requirement.
