Gannett raises offer for Tribune Publishing by 22 percent
NEW YORK (AP) — USA Today owner Gannett has boosted its takeover bid for Tribune Publishing Co. by about 22 percent one week after the owner of the Los Angeles Times, Chicago Tribune and other newspapers adopted a "poison pill" plan to thwart the unsolicited offer.
Gannett said that the total value of the revised offer is approximately $864 million, which includes the assumption of certain Tribune liabilities, such as about $385 million in outstanding debt.