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Swiss Billionaire Is Said to End His Bid for Tribune Publishing – The New York Times

Hansjörg Wyss was part of a serious offer for the major newspaper chain that could have prevented it from being sold to the hedge fund Alden Global Capital.

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Mr. Wyss, who made his fortune as a medical device manufacturer, had joined the Maryland hotel executive Stewart Bainum Jr. in a bid that seemed as if it had a chance of preventing Tribune from becoming fully owned by its largest shareholder, the New York hedge fund Alden Global Capital.
Mr. Wyss had joined the Maryland hotel executive Stewart Bainum Jr. in a bid for Tribune Publishing.Credit…The Wyss Foundation and Oceana
In late March, Mr. Wyss and Mr. Bainum had put together an offer of $18.50…

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