Tegna Stock Soars 30% Before Open On Report of $8.5B Bid By Gray Television
Signaling ongoing consolidation of the broadcast business, Gray Television has made an $8.5 billion bid for larger rival Tegna, according to Reuters, sending Tegna stock up by more than 30% in premarket trading Friday in what looks set to be an otherwise down market.
Gray offered about $20 a share in cash and stock…
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