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

POTENTIAL DEAL DETAILS

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.

Update(s):

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.

Disclaimer: Our intent with this section of the website is to present potential deals that appear to be in the pipeline. These potential deals are ones where i) the company has indicated that it is "seeking strategic alternatives", ii) there has been an unsolicited bid for a company as mentioned in a press release by the company or iii) news about the deal has been published by a leading news organization like The Wall Street Journal, The New York Times, Bloomberg, Financial Times, The Washington Post, Reuters and The Associated Press. As best as possible we will try to avoid baseless rumors. There is a high probability that many of these potential deals may not materialize and if they do, the terms of the deal may be different from what was initially reported. Please do your own due diligence before buying or selling any securities mentioned on this website. We do not warrant the completeness or accuracy of the content or data provided.