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Jenner & Block client Sam Zell is sponsoring the widely reported going private transaction involving the Tribune Company, in which shareholders will receive $34 per share in a complex two-stage transaction. Jenner & Block is the lead law firm representing Mr. Zell in the deal.
According to a company statement, upon completion of the transaction, the company will be privately held, with an Employee Stock Ownership Plan holding all of Tribune’s then-outstanding common stock and Mr. Zell holding a subordinated note and a warrant entitling him to acquire 40 percent of Tribune’s common stock. Mr. Zell will join the Tribune board upon completion of his initial investment and will become chairman when the merger closes.
For the full details of the transaction, please click here to view the Tribune Company press release.
The Firm’s team was led by Partners Joseph P. Gromacki, Thomas A. Monson, Brian R. Boch, Michael T. Wolf and Farhad K. Patel, and included Associates Blake J. Fix, Melissa C. Fogerty and Peter H. Rosenbaum.
Partners Elizabeth A. Davidson, Adam Petravicius, Edward G. Quinlisk, Michelle Speller-Thurman and William L. Tolbert and Associates Cori F. Brown, Mercedes M. Davis, Marc E. Harrison and Jeffrey D. Larson also contributed to the Firm’s efforts.
Numerous additional partners and associates from the Firm's Commercial/Bankruptcy, Employee Benefits, Environmental, Litigation, Real Estate and Tax practice groups also assisted on the transaction.
Click here to view recent coverage of the deal as reported by the Hollywood Reporter, Esq.