No Action Needs to Be Taken by Gannett Shareholders At This Time
Gannett (NYSE: GCI) (“Gannett” or “the company”) today confirmed that it has received an unsolicited proposal from MNG Enterprises Inc. to acquire Gannett for $12 per share in cash. Gannett’s stock closed at $9.75 on Friday, January 11, 2019.
Consistent with its fiduciary duties and in consultation with its financial and legal advisors, the Gannett board of directors will carefully review the proposal received to determine the course of action that it believes is in the best interest of the company and Gannett shareholders. No action needs to be taken by Gannett shareholders at this point.
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