DallasNews Confirms $16.50/Share Acquisition Offer From MNG; DALN Up Nearly 16% In Pre-Market

(RTTNews) - DallasNews Corporation (DALN), the holding company of The Dallas Morning News and Medium Giant, on Wednesday confirmed that it has received a proposal from MNG Enterprises, Inc., an affiliate of Alden Global Capital, to acquire DALN for $16.50 per share in cash.

DallasNews said that it is carefully reviewing the MNG proposal.  

As announced on July 9, DallasNews has entered into a merger deal with Hearst Corporation, pursuant to which Hearst agreed to acquire DALN for $14 per share in cash.

DALN was up by 15.95% at $15.85 in the pre-market trade on the Nasdaq.