Standard General to Acquire TEGNA for $24.00 Per Share
February 22, 2022
TEGNA Inc. and an affiliate of Standard General entered into a definitive agreement under which TEGNA will be acquired for $24.00 per share in cash, valuing the deal at about $5.4 billion equity value and $8.6 billion enterprise value (including assumed debt). The transaction is subject to shareholder and regulatory approvals and is expected to close in the second half of 2022; after closing TEGNA will become private.
- Buyers
- Standard General L.P. (affiliate)
- Targets
- TEGNA Inc.
- Industry
- Media & Entertainment
- Location
- Virginia, United States
- Transaction Type
- Buyout
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