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
euronews provides breaking news articles from reuters as a service to its readers, but does not edit the articles it publishes. Articles appear on euronews.com for a limited time.
(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.
(Reporting by Munsif Vengattil in Bengaluru; Editing by Shounak Dasgupta)