Tegna Confirms Two Acquisition Offers Withdrawn Amid Coronavirus Upheaval - variety.com -BoardProspects

Tegna Confirms Two Acquisition Offers Withdrawn Amid Coronavirus Upheaval

variety.com Mar 30 2020 BoardNews

Tegna confirmed Sunday that two suitors for the station group have recently withdrawn acquisition offers, citing the upheaval in the broader marketplace caused by the coronavirus crisis. Tegna ’s statement is the company’s first acknowledgement that it has received four unsolicited acquisition offers in recent weeks...
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1. As has been widely reported, Tegna has received four unsolicited acquisition proposals in recent weeks.
2. Like every other company, Tegna is operating in uncharted waters due to COVID-19 as we focus on ensuring the health and safety of our employees while continuing to create and preserve value.
3. In addition to our focus on executing our standalone plan, the Tegna board and management have meaningfully engaged with third parties to explore opportunities to create value.
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