Gannett Co. has privately sweetened its bid for Tronc Inc., according to people familiar with the matter, hoping to overcome resistance to a sale from the parent of the Chicago Tribune and Los Angeles Times.
Details of the new overture, which comes after Tronc rejected a prior bid of $15 a share, couldn’t be learned. Tronc is expected to respond by the end of the week, some of the people said, indicating that Gannett’s long pursuit of the storied newspaper chain may soon come to a head.
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