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McLean-based Gannett staves off hostile takeover bid

Michael Neibauer
McLean-based Gannett staves off hostile takeover bid

McLean-based Gannett Inc. (NYSE: GCI) appears to have held off a hedge fund-led hostile takeover bid. A preliminary vote tally following the company’s 2019 shareholder meeting shows all eight Gannett director nominees were elected to the Gannett board. Activist investor MNG Enterprises Inc., also known as Digital First Media, had sought to over Gannett’s board with directors of its own.