Bear Stearns Analyst Alexia Quadrani says there’s only a 60% chance that Knight Ridder will be sold because it’s doubtful that any suitor would pay more than the current stock price, roughly $62 a share, according to Editor & Publisher Magazine online. Quadrani says that if KR’s board rejects all offers, it should be prepared to immediately buy back the company’s stock, or the price will fall to $50 to $55. For local KR employees whose retirement portfolio consists largely of company stock, that would be bad news.

SF Press Club News

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