Halas’ Grandchildren Told to Sell Some Stock
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A Cook County probate judge ruled Tuesday that Christine and Stephen Halas, two grandchildren of the Chicago Bears’ founder, must sell part of their interest in the team to real estate developers who have tendered an offer for nearly a fifth of the National Football League club.
Judge Henry Budzinski said the sale of $17.5 million in Bears’ stock to Judd Malkin and Neil Bluhm was in the best interest of the estate of the late George (Mugs) Halas Jr., the founder’s son. Two of the Halas children had opposed the sale, saying the offer was well below the actual value of the stock, which equals about 20% of the ballclub.
But Budzinski said the developers’ offer “is the only bona fide offer submitted” to the estate, which is faced “with a liquidity crisis.”
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