Private Equity

Update 1-tribune Publishing Receives $680M Buyout Offer From Newslight

by finance.yahoo.com posted 5months ago 141 views
April 5 (Reuters) - Tribune Publishing Co has received a $680 million takeover offer from Newslight LLC, a bid that trumps an earlier proposal from hedge fund Alden Global Capital for the owner of the Chicago Tribune and the New York Daily News. Tribune said in a statement on Monday that its board had determined that the $18.50 per share proposal from Newslight, jointly owned by Choice Hotels International Inc Chairman Stewart Bainum and Swiss billionaire Hansjörg Wyss, was superior to Alden's bid.