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Alden Global Capital Announces Offer to Acquire Lee Enterprises (LEE)

  • November 22, 2021


StockLee Enterprises, IncorporatedSymbolLEE
Date Announced11/22/2021Source Press Release
TypeUnsolicited BidAcquiring Company/Person Alden Global Capital, LLC

According to a letter Alden Global Capital, LLC  sent the Board of Directors of Lee Enterprises (LEE), Alden Global Capital confirmed they propose to purchase Lee Enterprises (LEE) for $24 per share in cash.


November 24, 2021: Lee Enterprises, Incorporated (LEE), announced that its Board of Directors has unanimously adopted a limited-duration shareholder rights plan.

November 26, 2021: Alden Global Capital, LLC Announces that Affiliate Nominates Three Fully Independent, Highly Qualified & Diverse Director Candidates for Election at Lee’s (LEE) 2022 Annual Meeting

December 09, 2021: Lee Enterprises (LEE) Board of Directors unanimously rejects unsolicited proposal from Alden. Lee’s Board determined that Alden’s proposal grossly undervalues Lee and is not in the best interests of the Company and its shareholders.

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