The E.W. Scripps Company board unanimously decided to reject the unsolicited acquisition proposal submitted by Sinclair.
- Sinclair submitted proposal Nov. 24 to acquire all outstanding shares of Scripps it doesn’t own for $7 per share in a mix of cash and stock
- Scripps board determined the offer isn’t in the best interest of the company and its shareholders
- Morgan Stanley & Co. acting as financial adviser to Scripps
- NOTE:
Sinclair Bids for Rival TV Broadcaster Scripps at $7 a Share
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