Meredith corporation accepts revised proposal from gray television to acquire local media group

Des moines, iowa, june 3, 2021 /prnewswire/ -- meredith corporation (nyse: mdp) today announced that it has accepted a revised proposal from gray television, inc. (nyse: gtn) to acquire meredith's local media group ("lmg") for approximately $2.825 billion in cash ("the revised gray proposal"), and that the two companies have entered into an amendment to their previously announced definitive merger agreement reflecting the revised terms. under the terms of the revised gray proposal, meredith corporation shareholders would receive $16.99 per share in cash, revised from the previously announced $14.51 per share in cash, and 1-for-1 equity share in post-close meredith.
GTN Ratings Summary
GTN Quant Ranking