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home / news releases / LEE - Lee Enterprises says Alden proposal undervalues the company

LEE - Lee Enterprises says Alden proposal undervalues the company

Lee Enterprises Incorporated
Lee Enterprises (NASDAQ:LEE) announces that its Board of Directors has unanimously rejected the unsolicited, nonbinding proposal of Alden Global Capital, LLC to purchase the Company for $24.00 per share in cash. "After careful consideration with its financial and legal advisors, Lee’s Board determined that Alden’s proposal grossly undervalues Lee and is not in the best interests of the Company and its shareholders". In a separate press release issued today, Lee Enterprises reports continued revenue and Adjusted EBITDA growth and strong fourth quarter results. Shares of LEE +8% premarket. Previously (Nov. 22): Lee Enterprises jumps as Alden Global confirms $24/share offer.

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Lee Enterprises says Alden proposal undervalues the company
Stock Information
Company Name: Lee Enterprises Incorporated
Stock Symbol: LEE
Market: NYSE
Website: lee.net
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