Katz' Quest To Buy Oilers On Track After Counter Bid Fails

Katz Moving Closer In Bid For Oilers

Katz Group Chair Darryl Katz’ "quest to buy the Oilers has suddenly become much easier with the collapse of a potential bid from within the team’s [BOD],” according to Jonathan Huntington of the EDMONTON SUN. The small group of “non-Katz members within the Edmonton Investors Group [EIG] have notified the 34 EIG board members that there is no counter bid that can match or exceed [Katz’] offer.” At the moment, it “appears Katz has secured at least 60% of EIG’s 7,492 shares,” and while he “could close the deal with that amount, a source indicates he would ideally like close to 80%.” By also "upping his offer to [C]$200M for the team -- a jump from the [C]$188M he earlier offered -- could certainly bring him at least 70% of the shares.” Katz has “imposed a Feb. 5th deadline to officially close the deal” (EDMONTON SUN, 1/29).