Natalie Parkinson
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Natalie Parkinson in Mergers & Acquisitions,

Gannett offers to buy Tribune Publishing

Gannett Co. proposed to acquire Tribune Publishing Co. in a deal valued at about $400 million, as the owner of the USA Today seeks to add the Los Angeles Times and Chicago Tribune to its portfolio of newspapers.

The offer values Tribune shares at $12.25 each in cash, a 63% premium to their closing price Friday. Gannett said that when including the assumption of Tribune’s debt, the deal has an overall value of $815 million.

What do you think about this deal? Will shares of Tribune rise today?