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MNG Enterprises Receives Letter To Finance Proposal To Acquire Gannett For $12.00 Per Share


Wednesday, 20 Mar 2019 01:55pm EDT 

March 20 (Reuters) - MNG Enterprises Inc ::MNG ENTERPRISES RECEIVES HIGHLY CONFIDENT LETTER TO FINANCE PROPOSAL TO ACQUIRE GANNETT FOR $12.00 PER SHARE.OAKTREE "HIGHLY CONFIDENT" IN CO'S ABILITY TO ATTAIN DEBT FINANCING EQUAL TO NOT LESS THAN $1.725 BILLION REGARDING PROPOSED GANNETT DEAL.THE FINANCING WOULD BE SUFFICIENT TO REFINANCE EXISTING INDEBTEDNESS OF BOTH MNG AND GANNETT.FINANCING WOULD BE ENOUGH TO FULLY FINANCE $12.00/SHARE CASH PAYABLE TO GANNETT'S SHAREHOLDERS, AND PAY DEAL RELATED FEES.