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LOS ANGELES (AP) - Billionaire investor Sam Zell has presented a $33 per share proposal for Tribune Co., according to a published report.
A special board committee received details of the proposal this week, the Los Angeles Times reported in a story on its Web site Friday, citing a person familiar with negotiations who spoke on the condition of anonymity because deliberations are supposed to be confidential.
A $33 per share bid would be a $2.47 premium over Tribune's closing price of $30.53 Friday on the New York Stock Exchange.
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