India, July 23 -- DallasNews Corporation (DALN), the holding company of The Dallas Morning News and Medium Giant, on Wednesday confirmed that it has received a proposal from MNG Enterprises, Inc., an affiliate of Alden Global Capital, to acquire DALN for $16.50 per share in cash.
DallasNews said that it is carefully reviewing the MNG proposal.
As announced on July 9, DallasNews has entered into a merger deal with Hearst Corporation, pursuant to which Hearst agreed to acquire DALN for $14 per share in cash.
DALN was up by 15.95% at $15.85 in the pre-market trade on the Nasdaq.
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