Overview
- DallasNews said the merger closed on September 24, with shareholders receiving $16.50 per share in cash.
- DallasNews Series A common stock ceased trading on Nasdaq after the September 24 market close.
- Shareholders approved the agreement at a September 23 special meeting, and the results were reported in a Form 8-K.
- Alden’s MNG Enterprises raised unsolicited proposals up to $20 per share, but the board and the largest shareholder opposed a sale to Alden.
- An SEC filing estimated Hearst’s total outlay at about $80.3 million, adding The Dallas Morning News and Medium Giant to Hearst’s Texas portfolio.