Jefferies Upgrades Nexstar Broadcasting Group (NXST) to Buy
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September 28, 2015 9:09 AM EDT
Media General, Inc. (NYSE: MEG) today confirmed that it has received an unsolicited proposal from Nexstar Broadcasting Group, Inc. (Nasdaq: NXST) to acquire all of the outstanding common stock of Media General for $14.50 per share in cash and stock, including $10.50 per share in cash and... More
September 28, 2015 6:18 AM EDT
(Updated - September 28, 2015 6:49 AM EDT)
Nexstar Broadcasting (Nasdaq: NXST) made a $14.50 per share bid for Media General (NYSE: MEG), according to WSJ headlines.
Nexstar offered $10.50 per share in cash and 0.0898 shares of Nexstar stock for each share of Media General stock.
The offer values Media General at about $1.85 billion. Media General is worth about $4.1 billion, inclusive of debt.
UPDATE - The press release follows:
Nexstar Broadcasting has made a proposal to acquire Media General, Inc. for $10.50 per share in cash and... More
