Tribune Suitor Discussing Plan to Put Up More of His Own Money
- Stewart Bainum offers to include $200 million of his own money
- Bid partner Hansjoerg Wyss dropped out of an earlier proposal
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Real estate mogul Stewart Bainum Jr. is offering to put more of his own money into a takeover attempt for Tribune Publishing Co. as he tries to recruit like-minded partners for the deal, according to a person familiar with his thinking.
The billionaire is discussing a plan to double his stake in a potential bid to $200 million and tap an additional $100 million in debt financing, according to the person, who asked not to be identified because the deliberations are private. Bainum has notified a Tribune special committee about his new plan, the person said.