The US giant Gannett has launched a hostile purchase offer to Tribune Publishing through an operation valued at 815 million dollars, including debt.
The editorial group that controls the newspaper 'USA Today' intends to expand its portfolio of newspapers, incorporating names of the caliber of 'Los Angeles Times' and the 'Chicago Tribune'.
According to reports released by Tribune Publishing itself, Gannett offered $12 per share in cash on April 12,25. The figure compares with a value of Tribune stock that was $7,52 last Friday.
On Wall Street, the news sent investors into raptures. The stock is currently flying 55,4% to $11,69. On April 22, the Tribune sent a letter to Gannett explaining that it had enlisted Goldman Sachs and Lazard as financial advisors and Kirkland & Ellis as legal advisors.
