Tegna Inc. (NYSE:TGNA) rose 2.8% in after hours buying and selling after the termination date for its deliberate sale to Standard General was prolonged till May 22.
The stroll date for deal was prolonged to May 22 from Wednesday, in accordance with an 8-Okay submitting on Tuesday. Standard General stated in a separate assertion that its expects the transaction to shut in March or April topic to Federal Communication Commission approval. The non-public fairness agency stated that each one ready intervals for the federal antitrust regulator had expired.
Investors have been awaiting regulatory approval from the FCC and the Dept. of Justice. TV broadcaster Tegna (TGNA) in November agreed to increase the top date for its sale to Standard General till February 22, which might be prolonged one other three months.
Standard General in December supplied some cures to the regulators ,together with waiving some sure contractual rights, in an effort to appease regulators on the FCC and DOJ.
Last month Standard General’s Soo Kim stated he is optimistic that talks with regulators over the deliberate acquisition of Tegna (TGNA) had been nearer to the top than the start.
Tegna (TGNA) in late February of final 12 months agreed to be bought to Standard General for $24/share.