Belo investors to vote against Gannett takeover deal, WSJ says

theflyonthewall.com

Opposition to Gannett's (GCI) deal to acquire Belo (BLC) is growing two weeks ahead of the shareholders vote, with stakeholder Pine River Capital among a number of hedge funds that plan to vote against the transaction or are concerned about its terms, according to The Wall Street Journal, citing people familiar with the matter. The report adds that the odds that the deal will be approved are still in Gannett's favor and that the amount of opposition is not clear.

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