Pulitzer Acquisition Clears Antitrust Period Early

By: Staff
Lee Enterprises Inc.'s $1.46 billion acquisition of Pulitzer Inc. has been granted an early termination of waiting period required under Hart-Scott-Rodino antitrust by the Federal Trade Commission (FTC), according to filings by both companies with the U.S. Securities and Exchange Commission (SEC).

Analysts had not expected the deal to encounter any antitrust problems, and the early termination indicates the FTC has no concerns about the acquisition.

Before the deal can close, Pulitzer must submit a proxy statement to the SEC and its shareholders, and the shareholders must vote to approve the sale. At its annual meeting last week, Lee said the acquisition is expected to close by late May or early June.