LEE - Mergers and acquisitions

DAVENPORT, Iowa, March 29, 2024 (GLOBE NEWSWIRE) -- Lee Enterprises, Incorporated (NASDAQ:LEE) ("Lee" or the "Company"), today announced that its Board of Directors (the "Board") has unanimously adopted a limited-duration shareholder rights plan ("Rights Plan"). The Rights Plan is effective immediately and will expire on March 27, 2025. The Board may consider an earlier termination of the Rights Plan if circumstances warrant. The Board, in consultation with its legal advisors, adopted the Rights Plan in response to the significant accumulation of shares of Lee common stock by Quint Digital Limited, an entity based in India (together with its promoters and affiliates, "Quint"). In adopting

Board Takes Action in Response to Alden's Unsolicited Proposal to Acquire Lee Board Committed to Protecting Long-Term Value for All Shareholders Lee Enterprises, Incorporated (NASDAQ:LEE), today announced that its Board of Directors has unanimously adopted a limited-duration shareholder rights plan ("Rights Plan"). The Rights Plan is effective immediately. The limited-duration Rights Plan was adopted in response to an unsolicited and non-binding proposal to acquire the Company made by Alden Global Capital, LLC ("Alden") on November 22, 2021. In adopting the Rights Plan, the Board noted Alden's track record of rapidly acquiring substantial control or "negative control" positions in other