Hollinger Shareholders to Vote on Black Buyout Offer

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I guess Conrad doesn't want to go away.

March 8 (Bloomberg) -- Hollinger Inc.'s board agreed unanimously to let shareholders vote March 31 on Conrad Black's sweetened proposal to take the company private.

The board won't make a recommendation on Black's offer, the Toronto-based company said in a release distributed by Canada NewsWire today.

Yesterday Black's Ravelston Corp. raised its cash bid for Hollinger's common shares by 4.8 percent to C$7.60 from C$7.25, valuing them at C$58.4 million ($48 million). Hollinger Inc. is the company through which Black controls Hollinger International, publisher of the Chicago Sun-Times newspaper.

Black said in e-mails to board members including Chairman Gordon Walker that they face lawsuits from shareholders if they block or delay the meeting, according to court documents.

Bloomberg