- Tronc (TRNC +0.3%) Chairman Michael Ferro says there's room for "a different type of deal" with Gannett (GCI +4.1%), all in the immediate stock-shaking aftermath of Gannett walking away from a hostile bid for the publisher.
- Discussions broke down on speculation that an $18.75/share price bid wasn't enough for Ferro, though the two companies were reported to have largely agreed on that price. Tronc shares have dropped 20.5% since Tuesday to $9.57.
- Ferro said Gannett ended the deal after running into "an unexpected delay" in financing. Last week it was reported that banks were withdrawing funding for the takeover. But Gannett says that several financing options were available.