Hedge fund Alden, Tribune’s largest shareholder, has offered to buy the rest of the newspaper publisher at a price that values it at $520.6 million.
Alden sent a letter to Tribune on Dec. 14, according to a regulatory filing posted Thursday, offering $14.25 per share for the stock of Tribune it doesn’t already own. Alden owns 31.6% of Tribune shares. The hedge fund said it had not received “any feedback” to its letter, which it described as a “preliminary inquiry.”
Tribune did not immediately respond to a request for comment Thursday.
Alden bought its stake in Tribune
