Gannett CoInc. held talks with TRONC INC., previously Tribune Publishing Co., in thelast two weeks about a potential takeover of the Chicago-based publisher, the New York Post reported July 20, citingtwo sources familiar with the matter.
Sources said Gannett did due diligence on TRONC as part of thetalks, which can go either way. The meeting, however, was not attended by TRONCChairman Michael Ferro Jr.
A source reportedly said the "talks were professional."
In June, Gannett offered to ink a customary non-disclosure agreement inrelation to its $15 per share all-cash, no financing contingency, offer toacquire TRONC.