Sillerman’s Left Hand Meets Right Hand

CKX has agreed to a revised acquisition offer from 19X, with a closing date of October 31st.

CKX, which holds the rights to the names and likenesses of Elvis Presley and Muhammad Ali, agreed to a $12-per-share offer. Last June, CKX, which is run by Robert Sillerman, agreed to be bought by 19X for $13.75 per share.

The companies agreed to revise the agreement in September to reduce the amount of cash 19X would need to close the deal. Sillerman serves as chairman of 19X, which is also led by "American Idol" creator Simon Fuller.

CKX has a "go shop" period if another company wishes to make a higher offer, although the New York Times said go-shops have a weak track record. This one has a twist, though: if CKX finds a higher offer, excess money above the $12 per share goes to shareholders, the Times reported.