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Tribune Adopts Poison Pill in Defense Against Gannett Acquisition

Tribune Publishing (TPUB) , target of a hostile takeover by Gannett (GCI) , said on Monday it will use a so-called poison-pill shareholder rights plan to defend the company against an acquisition.

The plan, approved by the Chicago-based publisher's board of director, would increase the amount of shares owned by other stakeholders if another investor acquires more than 20% of the company.

The move by Tribune Publishing comes after Gannett last week urged the company's shareholders to abstain rather than support Chairman Michael Ferro's slate...


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