Gannett (GCI) Had Financing Options for tronc (TRNC) Takeover - Spokesperson

November 1, 2016 12:02 PM EDT

Get access to the best calls on Wall Street with StreetInsider.com's Ratings Insider Elite. Get your Free Trial here.

A Gannett (NYSE: GCI) spokesperson said it had financing options regarding a potential takeover of tronc, Inc. (Nasdaq: TRNC) but terminated talks after considering accretion and whether a deal made sense.

Comments from Gannet followed an earlier statement from tronc that suggested that financing was the reason talks failed.

“Gannett had a number of financing options available and determined to terminate discussions with tronc after considering both accretion to shareholders and whether the terms make sense for the company,” said a Gannet spokesperson.

The parties agreed to a purchase price in mid-September and the two sides had been working to finalize the deal, according to an earlier press release from tronc.



Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In






Related Categories

Corporate News, Management Comments, Mergers and Acquisitions, Trader Talk

Add Your Comment