TPCO - Tribune Publishing gains after filing shows $18.50/share non-binding offer

Tribune Publishing (TPCO),  which is being acquired by Alden Global for $17.25/share, rose 2.6% after a regulator filing from yesterday indicated that the company received a non-binding offer for $18.50 last week.Maryland hotel magnate Stewart Bainum submitted a non-biding offer to acquire the newspaper publisher on March 16 and indicated that Bainum was prepared to commit $100m in required equity financing. The offer is conditioned on completion of due diligence.Recall March 15, Tribune Publishing may see a new bid as Alden deal has issues, NYT says.

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Tribune Publishing gains after filing shows $18.50/share non-binding offer