MNG Enterprises offers to buy USA Today publisher Gannett

FILE PHOTO: The corporate flags for the Gannett Co and its flagship newspaper, USA Today, fly outside their corporate headquarters in McLean, Virginia, July 23, 2013. REUTERS/Larry Downing - Copyright Larry Downing(Reuters)

By Reuters

Published on 14/01/2019 - 12:34•Updated 24/04/2024 - 06:32

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(Reuters) - Newspaper chain MNG Enterprises Inc said on Monday it had offered to buy USA Today publisher Gannett Co Inc <GCI.N> for $12 per share in cash, or $1.36 billion (£1 billion).

The price represents a 23 percent premium to Gannett's $9.75 close on Friday.