Lee’s stock is now trading at way more than Alden Global Capital’s takeover offer

Posted Wednesday, December 15, 2021 11:18 am

Rick Edmonds | Poynter

In a surprise development as Alden Global Capital pursues a hostile bid to acquire Lee Enterprises, Lee’s shares have shot up in value in the last week. The stock closed Tuesday at more than $36 a share.

Unless the trend reverses, that makes hedge fund Alden’s $24 a share offer a month ago — already rejected by Lee’s board of directors last week — dead in the water.

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Lee’s stock is now trading at way more than Alden Global Capital’s takeover offer

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