Hearst Throws In Lowball Bid For Hearst-Argyle (HTV)

From 24/7 Wall St: Privately held Hearst Corp is bidding for the portion of Heart-Argyle (HTV) that it does not already own. Hearst owns just over 50% of HTV and has offered $23.50. According to the Wall Street Journal, “Investors, apparently banking that first offer won’t be the last, quickly sent Hearst-Argyle shares above the offer price.” The shares traded for $28 in April.  With the 2008 elections coming up, HTV shareholders would be foolish to take less than $30 for their shares…   Full post here.