Gannett Makes Threat to Pull Revised Offer for Tribune

USA Today: Shares of Tribune Publishing fell 15 percent Monday after the publisher rejected the revised, $15-per-share acquisition offer from Gannett, driving the owner of USA Today to review whether to possibly withdraw its offer. Tribune’s board determined that Gannett’s offer was “not in the best interests of Tribune shareholders but invited Gannett to agree to a mutual non-disclosure agreement under which both parties could engage in due diligence and discussions” for a deal, Tribune said.