The special committee of
In an updated filing Wednesday with the
The filing cited the nonbinding nature of Bainum/Wyss'
The filing, however, remained preliminary. No shareholders meeting has been scheduled yet. The document states that lawyers for Bainum and Wyss only sent a draft of a merger agreement to
The Bainum/Wyss entity, known as
The stock market appeared unmoved by
The filing disclosed that Wyss, who made his fortune in medical device manufacturing, is financing the bulk of Newslight's bid. Wyss is putting up
The filing also disclosed that Bainum is no longer negotiating the originally proposed acquisition of
A representative of the Bainum/Wyss group declined to comment on the filing.
Alden, meanwhile, has said it would not vote its 32% stake in