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Gray Television Said To Withdraw Bid For Tegna
17.03.2020 - 23:01 / deadline.com
By Jill Goldsmith
Gray Television is said to have withdrawn its bid for Tegna,
The company had offered $20 a share, or $8.5 billion in combined cash and stock for Tegna. Its bid was followed by identical offers from private equity giant Apollo Global and Byron Allen’s Allen Media – both all cash offers, also for $8.5 billion.
Those offers appear to still be on the table.
Gray’s move was reported by Reuters. The company could not be immediately reached for comment. Allen Media declined to
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