Tribune Publishing Co. will talk with a group that has offered $680.8 million for the newspaper publisher, saying it will likely beat out an accepted $634.8-million takeover offer from hedge fund Alden Global Capital. Alden’s offer of $17.25 a share remains in effect, but Tribune can now engage in negotiations with Newslight and offer it due-diligence materials, the newspaper company said. Tribune shares rose as much as 2.6% to the Newslight offer price, $18.50, in New York trading Monday. AdvertisementSoon-Shiong retained his stake in Tribune Publishing and currently is the company’s second-largest shareholder with 24%. He acquired his initial interest in Tribune Publishing at $15 a share in 2016.

Source: Los Angeles Times April 05, 2021 16:30 UTC