OMAHA, Neb. — The Alden Global Capital hedge fund is sending its own appeal to shareholders of newspaper publisher Lee Enterprises as part of its campaign to acquire the company.
The New York-based hedge fund that is already one of the nation’s largest newspaper owners urged Lee shareholders Thursday to support two new directors it has nominated to help reshape the Davenport, Iowa-based company’s strategy.
Lee already rejected Alden’s $24 per share offer to buy the company and asked shareholders to help it fight off Alden’s advances.
A lawsuit to decide whether shareholders will be allowed to vote on Alden's nominees is set to be decided next month.
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