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Lee Enterprises Extends Limited-Duration Shareholder Rights Plan For One Year From March 27, 2025 Until March 27, 2026 In Light Of Hoffmann Letter

Benzinga·03/26/2025 20:02:02
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Following the unsolicited expression of interest from The Hoffmann Family of Companies to acquire the Company, made public on March 20, 2025, the Board, in consultation with its legal advisors, determined to extend the Rights Plan. 

The Board had initially adopted the Rights Plan in March 2024 in response to a significant accumulation of shares of Lee common stock by a shareholder that controlled a digital publishing business that sought to compete with the Company's subsidiary, BLOX Digital.