Tribune Co. has declared victory over the Chandler family, as stockholders tendered most of the shares it sought despite outspoken opposition by the second-largest shareholders of the Chicago-based
conglomerate, reports the Associated Press. But the Chandlers warn that the fight over the company's direction ain't over yet--especially since the tender made them the single biggest holders of
Tribune stock. They pledge to keep trying to bring "positive change for the benefit of all Tribune stockholders.... We, like many other non-tendering stockholders, believe there is greater value to be
realized through prompt and meaningful strategic action," they say. Tribune fell short of the 53 million shares it sought and had to pay at the high end of its offer range of $28 to $32.50 per share,
but a Chandler spokesman declines to comment on what action the family might next pursue.
Read the whole story at Associated Press via CBSNews.com »