Announced
Financials
Tags
Majority
Privatisation
Friendly
Pending
Private Equity
Media Agencies
television broadcasting
United States
Public
Acquisition
Auction
Synopsis
Private equity firm The Najafi Companies and media broadcaster Trinity Broadcasting Network, offered to acquire Tegna, a digital media and marketing services company for c. $4.4bn. The Najafi Companies and TBN have joined forces and expect to create a wholly-owned new entity for the proposed acquisition. The group believes a successful bid would create significant value to Tegna’s shareholders, while as a private company under Najafi and TBN, Tegna would have the opportunity and flexibility to execute a long-term value creation strategy, free from the pressures of managing short-term public shareholder objectives. On September 21, 2021, Apollo Global Management and hedge fund Standard General bid $8bn to take over Tegna.
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