Gannett Co.Inc. is asking Tribune Publishing Co. stockholders to"withhold" votes in Tribune's annual shareholders meeting on June 2.
Gannett intends to solicit "withhold" votes inconnection with the election of eight nominees to Tribune's board in order tocompel Tribune's board to engage in discussions regarding its takeoveroffer for $12.25 pershare, or about $815 million, according to a May 2 proxy statement. Gannettclarified that the vote, for now, is not asking the stockholders to approve theproposed takeover.
Gannett, in an April 29 letter to Tribune, also demandedaccess to Tribune's stock ledger and most recent list of stockholders.
Tribune Publishing CEO Justin Dearborn earlier that Gannett has adoptedan "aggressive and hostile approach" to the negotiations.