Lee Press Board Issues Poison to Fight Alden Takeover Bid

Lee Enterprises Inc. said its board had approved a shareholder rights plan, also known as a poison pill, that would prevent hedge fund Alden Global Capital LLC from buying back more than 10% of the company’s shares because it considers Alden is a publisher of hostile newspapers.

The plan will be in effect for a year, the company said on Wednesday. Lee Enterprises
+ 0.83%

Chairwoman Mary Junck said the plan would give the company’s board and shareholders time to evaluate the takeover proposal without undue pressure.

https://www.marketwatch.com/story/board-of-lee-newspapers-enacts-poison-pill-to-fend-off-alden-takeover-bid-11637795295?rss=1&siteid=rss Lee Press Board Issues Poison to Fight Alden Takeover Bid


Inter Reviewed is an automatic aggregator of the all world’s media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials, please contact us by email – admin@interreviewed.com. The content will be deleted within 24 hours.

Related Articles

Back to top button