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Tribune Publishing to be Acquired by Alden Global Capital
February 16, 2021 GMT
CHICAGO, Feb. 16, 2021 /PRNewswire/ Tribune Publishing Company (NASDAQ: TPCO) (“Tribune” or the “Company”) and affiliates of Alden Global Capital (“Alden”) today announced that they have entered into a definitive merger agreement under which Alden will acquire all of the outstanding shares of Tribune common stock not currently owned by Alden for $17.25 per share in cash. Alden currently owns 11,554,306 shares of Tribune common stock, representing 31.6% of the Company’s outstanding shares.
The purchase price represents a premium of 45% to the closing price of Tribune common stock on December 11, 2020, the last trading day prior to receiving Alden’s proposal, a premium of approximately 35% to the closing price of Tribune common stock on December 30, 2020, the last trading day prior to public dis
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CHICAGO, Dec. 31, 2020 (GLOBE NEWSWIRE) Tribune Publishing Company (NASDAQ:TPCO) today announced that it has designated a special committee of its Board of Directors to act on behalf of the Company in respect of the acquisition proposal made by Alden Global Capital on December 14, 2020. The special committee consists of three independent members of the Board of Directors. The special committee has engaged Lazard as its financial advisor and Davis Polk & and Wardwell LLP as its legal counsel.
No assurance can be given that Alden s proposal, or any other transaction, will be consummated. The Company does not intend to disclose developments regarding these matters unless and until the special committee its Board of Directors determines there is a need to update the market.
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