Lear agreed to postpone his tender offer.
Hollywood executives Norman Lear and A. Jerrold Perenchio agreed to stop soliciting stock temporarily in their hostile tender offer for Evening News Assn. of Detroit while the U.S. Circuit Court of Appeals decides whether a Michigan anti-takeover law applies to their bid. The two executives have bid $453 million for the company, which owns the Detroit News and several television and radio stations, but a U.S. District Court judge has ruled that the bid is subject to the restrictions of the Michigan law.
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