(Reuters) Gannett Co Inc said on Monday its board rejected newspaper chain MNG Enterprises Inc’s unsolicited bid saying the offer undervalued the company and was not credible. MNG, controlled by secretive hedge fund Alden Global Capital LLC, offered to buy Gannett in a $1.36 billion deal in January to add the USA Today and scores of other newspapers to its stable of regional publications.
Gannett’s Board Rejects Hostile Bid by MNG Enterprises
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