Alden Global Capital made a nonbinding proposal this month to buy the rest of newspaper publisher Tribune Publishing Co. at a valuation of $520 million, the hedge fund said.
Alden, which already owns 32% of Tribune, inquired about an acquisition at $14.25 a share in a letter sent to Tribune’s board Dec. 14, it said in a filing dated Wednesday.
Shares of Tribune, the publisher of the namesake Chicago Tribune, the New York Daily News and other big-city newspapers, closed Wednesday at $12.79, giving the company a market capitalization of $467.3 million.
Not an expert, but seems like its going to make some decent upscales today....
Happy New Year
Alden, which already owns 32% of Tribune, inquired about an acquisition at $14.25 a share in a letter sent to Tribune’s board Dec. 14, it said in a filing dated Wednesday.
Shares of Tribune, the publisher of the namesake Chicago Tribune, the New York Daily News and other big-city newspapers, closed Wednesday at $12.79, giving the company a market capitalization of $467.3 million.
Not an expert, but seems like its going to make some decent upscales today....
Happy New Year