Thursday, December 13, 2007

Pharmacy tycoon makes new bid for Oilers

From the Globe and Mail:
Rexall Founder and Chairman Daryl Katz has made a new offer to purchase the Edmonton Oilers and related assets. The terms of the offer, which were not publicly disclosed, are being delivered directly to the shareholders of the Edmonton Investors Group.

The offer, according to sources, is for $188-million and the difference this time around is, it appears to have a chance of succeeding. Katz's previous offers for the team had fallen on deaf ears.

Katz's offer was made at the encouragement of a number of significant EIG shareholders over the past six months. In particular, Katz called Cal Nichols, Founding Chairman of the Board of EIG on Thursday morning to outline the terms and conditions of the offer. Nichols said that it was an offer that he would enthusiastically support. ...more

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