Tribune Publishing Rejects Revised Gannett Takeover Proposal
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Gannett (GCI) Comments on Tribune (TPUB) Takeover Rejection; Will Review Offer Following Shareholder Vote
May 23, 2016 9:25 AM EDTGannett Co., Inc. (NYSE: GCI) issued the following statement regarding its $15.00 per share all-cash premium offer to acquire Tribune Publishing Company (NYSE: TPUB) and its intent to seek WITHHOLD votes in connection with Tribunes 2016 Annual Meeting of Stockholders to be held on June 2, 2016.
Despite repeated efforts by Gannett to engage with Tribune regarding its $15.00 per share all-cash premium offer, Tribune has continued to take actions that Gannett believes are designed to convey disproportionate control of the enterprise to select stockholders while ignoring its duties to... More
