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Article: Gannett Recommends Rejection of Mini-Tender Offer by TRC Capital Corporation.
- Article from:
- Business Wire
- Article date:
- May 20, 2008
CopyrightCOPYRIGHT 2008 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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MCLEAN, Va. -- Gannett Co., Inc. (NYSE:GCI) has received notification of an unsolicited mini-tender offer by TRC Capital Corporation. TRC Capital is offering to purchase up to 2,500,000 shares, or approximately 1.09%, of the outstanding Gannett common stock, at a price of $29.45 net per share. The price offered represents a 3.88% discount to the $30.64 closing price on the New York Stock Exchange on May 13, 2008, the day prior to the date the offer commenced.
Gannett does not endorse this offer and recommends that stockholders not tender their shares in response to the mini-tender offer. It is very important to note that TRC Capital's offer is subject to numerous ...