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Article: Hollinger International Announces Commencement of Exchange Offer for Any and All 9 3/4% Prides Depositary Shares
- Article from:
- PR Newswire
- Article date:
- July 8, 1998
CopyrightCOPYRIGHT 1998 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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CHICAGO, July 8 /PRNewswire/ -- Hollinger International, Inc. (NYSE: HLR) announced today that it has commenced an Exchange Offer to exchange any and all of its outstanding 9 3/4% PRIDES Depositary Shares (NYSE: HLR PrP) representing Series B Convertible Preferred Stock of Hollinger for shares of its Class A Common Stock at an exchange ratio of 0.92 shares of Class A Common Stock for each PRIDES. The Exchange Offer is not conditioned upon any minimum number of PRIDES being tendered.
Hollinger said that the Exchange Offer materials are being mailed to holders of PRIDES and that the Exchange Offer is scheduled to expire at 12:00 midnight Eastern Standard Time on ...