Emmis, which has been awash in red ink, must contend with more than $340 million in debt after CEO Jeff Smulyan failed in his attempt to purchase the company and take it private.
The communications company said in a news release that CEO Jeff Smulyan is continuing to negotiate with a group of preferred
and is considering another buyout option that would not require their consent.
Emmis Communications Corp. Chairman Jeff Smulyan’s effort to take the media company private could be derailed by a band
of preferred stockholders who oppose the plan.
A big Emmis Communications Corp. shareholder believes the $90 million deal CEO Jeff Smulyan unveiled Monday morning to
take the company private is unlikely to get derailed—even though it’s worth far less than a takeover offer Smulyan
failed to get through his board four years ago.
The proposal to remove an 80-percent approval threshold for takeover bids against the wishes of Lilly’s board received
approval from shareholders holding 74 percent of Lilly’s shares.
Steak n Shake Co. doesn't operate a single restaurant in New York City, where it is hosting its annual meeting Thursday.
But the world financial capital is chock full of high-profile investors intrigued by Steak n Shake CEO Sardar Biglari's
plans to harvest cash from the 485-location restaurant chain and deploy it on other investments.
Directors at Chicago-based General Growth Properties Inc. are being sued by a shareholder claiming they shouldn’t have
rejected a $10 billion buyout offer from competitor Simon Property Group Inc.