My intent always was to express that the liberal management in their efforts to add to their shares fell short.
My intent was to express that the Chandler Group was going to continue efforts for sale or breakup of company. And they would not tender any stock in the auction.
I am sorry that my use of buyers is not clear.
Would this replacement phrase be acceptable ? ... Dinos got fewer offers than expected.
In any event, I was not and I am not now trying to spin my way out of an out right error.
Tribune Fails to Complete Buyback Amid Investor Fight http://www.bloomberg.com/apps/news?pid=20601087&sid=aXmHI2Yv2ujo&refer=home
From the article:
June 27 (Bloomberg) -- Tribune Co., the second-largest U.S. newspaper publisher, failed to meet its goal of buying back about 25 percent of outstanding shares amid a fight with its second-biggest shareholder.
Shareholders agreed to sell about 45 million shares at $32.50, Chicago-based Tribune said today in a statement distributed by PR Newswire. That's 85 percent of the 53 million shares the company planned to buy through a so-called Dutch auction process.