Thursday, January 30, 2020 11:34:09 PM
Alden Global Capital, the New York vulture hedge fund gutting Digital First Media newspapers, has acquired a $9.2 million stake in one of its rivals, Lee Enterprises, siphoning money from Alden’s highly profitable and understaffed papers to finance the stock purchase. MNG Enterprises, Alden’s business name for DFM, reported the acquisition in a filing with the Securities and Exchange Commission on Wednesday. The 3.4 million shares —representing a 5.9% stake in Lee — were purchased on the open market for just under $2.72 a share. Lee shares closed on Wednesday at $2.11. No doubt this will hit at least $3 in very short order , since Alden paid close to that, per share.
$$LEE$$
Recent LEE News
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- Form 8-K - Current report • Edgar (US Regulatory) • 02/23/2024 03:19:22 PM
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- Form SC 13G - Statement of acquisition of beneficial ownership by individuals • Edgar (US Regulatory) • 01/22/2024 10:02:56 PM
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