EDMONTON (CP) - An Edmonton billionaire who has tried twice before to buy the Edmonton Oilers has submitted a new proposal to buy the team.
Daryl Katz, owner of the Rexall Pharmacy chain, is believed to have put up more than $170 million. Previous offers of $150 million and $145 million were made to the board of directors but were rejected.
This time, however, Katz has reportedly gone directly to shareholders with his bid.
All Katz needs is two-thirds of the votes for the sale to go through.
The Oilers are currently owned by 37 investors who bought the NHL team in 1998.
Billionaire owner of pharmacy chain making new bid to buy Edmonton Oilers
07-19-2007, 04:51 AM
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