Newspaper Publisher Lee Enterprises Enacts Plan to Prevent Takeover by Cost-Cutting Hedge Fund Alden Global Capital
Lee Enterprises Inc. — one of few sizeable American newspaper chains not owned by hedge fund Alden Global Capital LLC — has adopted a limited duration shareholder rights plan that would prevent Alden from acquiring more than 10% of the company, as Lee Enterprises considers Alden’s hostile bid for the company…
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