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Gannett rises as spurned MNG reportedly launches proxy fight

Feb. 07, 2019 4:23 PM ETGannett Co., Inc. (GCI) StockGCIBy: Jason Aycock, SA News Editor
  • Gannett (NYSE:GCI) is up 1.4% after hours following a WSJ report that MNG/Digital First is launching a proxy fight over the company's board.
  • That follows Gannett's rejection of MNG's $12/share cash bid for the company, and a response from MNG that Gannett had "no credible plan" to get to that price on its own.
  • Digital First is nominating six candidates and will seek to replace a majority of Gannett's board this spring. It's one of Gannett's biggest shareholders, with a 7.5% stake.
  • Gannett's quoting at $11.15 after hours.

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