U.S. regional TV station operator Tegna is in talks to sell itself to shareholder Standard General and private-equity firm Apollo Global Management for $24 per share, a source familiar with the matter said.
Shares of Tysons, Virginia-based Tegna closed up 7% at $21.34, giving the company a market capitalization of about $4.72bn.
Standard General owns about 4.8% of Tegna, making it the fourth-largest shareholder, according to Refinitiv data.
The latest offer is an increase of about $2 per share over Apollo and Standard General’s bid in September that was reported by Bloomberg News.
Read more: Reuters
