Look how happy Sam Zell looks. But right now he's probably a bit irritated: last night Eli Broad and Ron Burkle submitted a last-minute bid for the Tribune Company, putting the two billionaires against Zell.
So which horse to put our money on? According to today's WSJ, Zell knows all about buying fixer-uppers. He's known as "the 'Gravedancer' for his history of taking distressed properties, turning them around and selling them at vast profits." If he misjudged the bicycle market, he's a "man of his word," who at least publicly has said he won't break up Tribune Co. And he's not in it for Tribune's real estate holdings, valued at less than $700 million. So, Broad and Burkle/Zell, who is the Seabiscuit of the bunch?
· Tribune Suitor Zell Is Used to Bucking Trends [WSJ]
· L.A. billionaires up bid for Tribune Co. [Business Week]
· Broad, Burkle Up Offer for Tribune Co. [WP]