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private updates tiger tickets equity firm tiger games details BainCapital is in talks with Chinatrust (2891.TW) to launch a jointbid for AIG's Taiwan insurance unit Nan Shan, a source withdirect knowledge of the situation said on Tuesday. Stocks | Mergers & Acquisitions | Funds News | ETFs News | Private Capital The move came after Taiwan regulators asked first-roundbidders for Nan Shan Life including Bain to team up with a localfinancial firm before entering the second round of bidding, saidthe source. Bain and Chinatrust Financial Holding Co Ltd have yet todefinitively agree on a joint bid, he added Bain declined to comment. A representative for Chinatrustcould not immediately be reached for comment. (Reporting by George Chen; Editing by Jonathan Hopfner) Stocks Mergers & Acquisitions Funds News ETFs News Private Capital. * Globe approves concessions 366-179 Stocks | Mergers & Acquisitions | Bonds | Media * Concessions include $10 mln in pay cuts, other givebacks (Adds details on Boston Red Sox, Worcester newspaper) By Robert MacMillan NEW YORK, July 20 (Reuters) - The Boston Globe's largestunion voted by a nearly 2-to-1 margin on Monday to approve paycuts and other concessions that would save the 137-year-oldpaper $10 million a year and allow The New York Times Co(NYT.N) to sell it.
The Boston Newspaper Guild voted 366-179 in favor of thecuts tiger baseball tickets . "It has been a long and difficult period for everyone andwe hope that we can now work with prospective buyers to helpThe Boston Globe carry on with its vital mission to promotegood journalism and protect free speech," guild President DanTotten said in a statement on Monday tiger game tickets . The agreement ended more than three months of bad bloodbetween the union and the Globe red socks . The Times Co had threatened toclose the daily, one of the largest and most respected in theUnited States, if it could not get the concessions red socks tickets . "We deeply appreciate the sacrifices that guild members aremaking to help sustain The Boston Globe's mission of deliveringhigh-quality journalism to the greater Boston community," Globespokesman Robert Powers said in an e-mailed statement. Under the terms of the deal, union members will take a 5.94percent salary cut and other benefits will be scaled back. Theywill also be subject to unpaid furloughs and a pension freeze.Some members will lose lifetime job guarantees.
Union members in June rejected a previous agreement, whichwould have cut pay by more than 8 percent tiger . The Globe respondedby threatening to cut pay by about 23 percent beforenegotiations resumed on the new package stadium . Although the guild tentatively agreed to support the newpackage in June, doubts had arisen in recent days that itsmembers would vote for it detroittigers . THREE POTENTIAL BUYERS EXPRESS INTEREST The guild is the last and largest of several unions toagree to the cuts david ortiz . With its agreement in hand, the Times Colikely will try to find a buyer for the Globe, which it saidprobably would book an $85 million operating loss this year,absent $20 million in savings that it sought from its unions. Three potential bidders have expressed interest in thepaper, including Stephen Pagliuca, a managing director atprivate equity firm Bain Capital and co-owner of the BostonCeltics basketball team. The Times Co paid $1.1 billion in 1993 to buy the Globe.Now, its value, according to analysts, ranges from as high as$250 million to zero.
The Times, which reports its quarterly financial results onThursday, is dealing like other U.S buy tiger tickets . newspaper publishers withplunging advertising revenue and falling circulation as morepeople get their news online jason varitek . It must also pay off hundreds of millions in debt duringthe next few years, forcing the Sulzberger family that controlsthe paper into selling assets, including its classical musicradio station, and borrowing money from Mexican billionaireCarlos Slim to stay afloat tiger games . The Times also wants to find a buyer for its otherproperties in Massachusetts, including its stake in the holdingcompany that owns the Boston Red Sox baseball team, and itsother paper in the state, the Worcester Telegram-Gazette tiger game tickets . (Additional reporting by Phil Wahba; Editing by Peter Cooney) Stocks Mergers & Acquisitions Bonds Media.
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