Gannett Slams Tribune Bosses in Letter to Shareholders

Gannett continues to wage its takeover battle against Tribune Publishing on multiple fronts, sending a strongly-worded letter to the company’s investors this morning that blasted its leadership and urged shareholders to abstain from voting for its board of directors nominees.

The letter, which makes the case for an $864 million acquisition bid proposed by Gannett earlier this month, urges shareholders not to “let the Tribune Board stand in the way of your obtaining superior and certain cash value” and calls the company’s strategy “substance-free, newly developed and unproven.”

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