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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
LEE,
+ 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

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