TPCO - Tribune Publishing suitor Bainum is said willing to put up more cash for bid

Tribune Publishing (TPCO) bidder Stewart Bainum is said to be willing to add more of his own money for an offer for the newspaper publisher.Bainum is talking about doubling his cash in a potential bid to $200M and adding another $100M in debt funding, according to an earlier Bloomberg report.He has also reached to major foundations in Chicago to help out with his offer, though he hasn't found a partner, according to the report.The news comes after a report earlier this week that Bainum is still working on besting Alden's deal. Bainum is said to be be making progress on replacing financing for his offer that went away when Hansjörg Wyss dropped out of the bidding, according to the CTFN report.Tribune board's special committee set a May 21 shareholder vote on the Alden Global deal last week.

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Tribune Publishing suitor Bainum is said willing to put up more cash for bid