LEE - Alden Global nominates three for Lee Enterprises board amid takeover attempt

Alden Global nominated three directors for Lee Enterprises' (NASDAQ:LEE) board after the newspaper published rejected a $24/share offer from the hedge fund earlier this week. Alden cited Lee's decision to institute a poison pill this week as one of the reason's for the board nominations, according to a statement. Alden Global nominated Colleen B. Brown, Carlos P. Salas and John S. Zieser. "Alden’s hope is that the board engages meaningfully and expeditiously with Alden towards a transaction in the best interests of Lee stockholders, and that a proxy contest at the 2022 annual meeting will prove unnecessary," Alden Global said in the statement. Moelis & Co. is acting as financial advisor to Alden Global. Akin Gump Strauss Hauer & Feld LLP and Olshan Frome Wolosky LLP are serving as its legal counsel. The Alden Global offer comes after Alden earlier this year won an auction for Tribune Publishing, the publisher of the Chicago Tribune and

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Alden Global nominates three for Lee Enterprises board amid takeover attempt