The attempt of Jeff Smulyan’s JS Acquisition to acquire the shares of Emmis Communications and take the company private again ran into a roadblock Friday 8/27/10, and no further meetings were scheduled at that time. However, an Emmis spokesperson told RBR-TVBR that a new meeting may be announced Monday 8/30/10.
The latest swing and a miss is strike five – but luckily for Smulyan, such deals do not operate under the rules of baseball and if all goes according to plan his next trip to the plate for another crack at recalcitrant shareholder pitching will be scheduled in the very near future.
Emmis stock closed Friday 8/27/10, at $2.02. The offer on the table is $2.40 per share.
For Friday stock closings: Broadcasters cash in as Fed’s Ben Bernanke floats all Wall Street boats – 08/27/10