Byron Allen Atlanta Coronavirus travelers Byron Allen Atlanta

Byron Allen Makes Acquisition Offer for Tegna Station Group

Reading now: 845
variety.com

Byron Allen’s Allen Media Group has made an all-cash offer for Tegna, the station group that has attracted at least two other bids during the past week.

Allen is believed to have offered $20 a share for Tegna in a bid that values the company at $8.5 billion, including more than $4 billion of Tegna debt.

That’s in the range of offers that were submitted by Atlanta-based Gray Television and private equity giant Apollo Global Management.

Gray’s offer includes cash and stock, which is less attractive at a time of extreme volatility in the equities markets. A representative for Allen could not be reached for comment late Wednesday.

Read more on variety.com
The website starsalert.com is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.

Related News

DMCA