Gannett Rejects Takeover Bid by Digital First Media as Not Credible

USA Today: Gannett said Monday that its board has unanimously rejected an unsolicited proposal to be acquired by media company MNG Enterprises, also known as Digital First Media, saying the proposal undervalues the company and the board doesn’t believe the offer is credible. “The Gannett board concluded that MNG’s unsolicited proposal undervalues Gannett.”