McCaw Asks Lin to Reconsider: McCaw Cellular...

McCaw Asks Lin to Reconsider: McCaw Cellular Telephone urged Lin Broadcasting’s management to reconsider a “seemingly arbitrary” Monday deadline for agreement on a friendly $6.1-billion acquisition of Lin by McCaw. McCaw--which has made a $110-a-share, or $5.3 billion, hostile tender offer for Lin--said it is still willing to consider the higher, $127.50-a-share offer. However, it said Lin’s “inflexibility” makes it impossible to reach a definitive agreement. Additionally, McCaw said Drexel Burnham Lambert has pledged to provide up to $2.5 billion in financing for the acquisition of Lin.