Gannett (GCI) Had Financing Options for tronc (TRNC) Takeover - Spokesperson
- Netflix, Inc. (NFLX) Tops Q4 EPS by 1c; Subs Beat Views
- S&P 500 ends up slightly with boost from financials; Netflix up late
- Nestle Said Examining Takeover of Mead Johnson (MJN) - Source
- La Quinta Holdings (LQ) Gains on Plan to Split in Two
- After-Hours Stock Movers 01/18: (OCLR) (CSX) (NFLX) Higher; (AMDA) (RCII) (ZYNE) Lower (more...)
Get inside Wall Street with StreetInsider Premium. Claim your 2-week 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
- Houlihan Lokey (HLI) Acquires Black Stone IP
- Canadian Pacific Railway (CP) Names Keith Creel to Succeed as CEO
- Delcath Systems (DCTH) Says New Outcomes Using Melphalan/HDS to Treat Unresectable Metastatic Ocular Melanoma Accepted for Oral Presentation
Create E-mail Alert Related CategoriesCorporate News, Management Comments, Mergers and Acquisitions, Trader Talk
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!