UPDATE: Gannett (GCI) -Tronc (TRNC) deal still in doubt as banks said to withdraw financing

October 27, 2016 2:56 PM EDT

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(Updated - October 27, 2016 3:02 PM EDT)

Gannett (NYSE: GCI) and Tronc (Nasdaq: TRNC) deal still in doubt as banks said to withdraw financing, according to Bloomberg.

UPDATE - Some lenders voiced concerns about the health of the two companies given the valuation of the deal.

Gannett offered $18.75 per share for Tronc. Previous offers from Gannett were $12.25 per share in April and $15 per share in May.

alks between the two companies are ongoing.

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