Black Bids $61 Million to Take Hollinger Private
From Reuters
Newspaper tycoon Conrad Black, battling fraud charges and shareholder lawsuits, set terms to take his Canadian holding company private, away from the scrutiny of increasingly angry regulators.
Black offered to pay about $61 million to buy out minority shareholders of Hollinger Inc., one day after U.S. regulators accused him and the Canadian firm of defrauding Hollinger International Inc. investors.
A spokesman for Black said the charges were not expected to interfere with the attempt to take Hollinger Inc. private.
