Digital First Media Secures $1.725B for Hostile Takeover of Gannett
Gannett still not convinced this deal is in its best interests
The battle for ownership of Gannett is heating up. Last week, MNG Enterprises, also known as Digital First Media, announced that it has secured a letter from investment firm Oaktree Capital Group that states it is confident that Digital First Media can fund an acquisition for at least $1.725 billion. At this level of investment, Digital First Media could pay Gannett $12 per share, including any associated costs and the refinancing of MNG and Gannett debt.
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