TPCO - Tribune Publishing likely to say rival $18.50/share bid superior to Alden Global

Tribune Publishing Co.'s (TPCO) is reportedly likely to say a fully financed $18.50/share rival offer is superior to Alden Global's original $17.25 deal to purchase the newspaper publisher.A special committee of Tribune's board is expected to announce that the bid from Choice Hotels International Inc. Chairman Stewart Bainum and Hansjörg Wyss is reasonably likely to lead to a proposal that is superior to Alden’s acquisition, according to a WSJ report. The fully financed offer was submitted late last week.The pronouncement by Tribune Publishing will likely mean that Alden Global will have to increase its bid or walk away from the deal.Recall April 2, Tribune Publishing deal watchers turn eyes to Soon-Shiong's 'veto.'Recall March 24, Tribune Publishing gains after filing shows $18.50/share non-binding offer.

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Tribune Publishing likely to say rival $18.50/share bid superior to Alden Global