What will happen to the Tribune Stock Fund during the tender offer process?
The Tribune Stock Fund is open for normal activity (transfers, contributions, etc.) through 5 p.m., Eastern time, on May 22, 2007, – the day tender elections are due. Beginning May 23, 2007, anyone who has elected to tender shares from their retirement account will have a “hold” placed on their stock account. No transactions or transfers are allowed out of the stock account until the tender offer is settled. This may take up to seven business days following the close of the tender offer. Once the tender offer is completed, tendered shares will be sold and the proceeds transferred to the investment fund(s) that you elect. Shares that are not tendered will remain in the Tribune Stock Fund and the hold will be removed, allowing future transactions and transfers. If you submit instructions to tender your shares but you move all of your assets out of the Tribune Stock Fund before May 22, 2007, your tender instructions will be disregarded.
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