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Tegna (TGNA) buyout deal of $5.4 million gets shelved by the Federal Communications Commission.
Tegna (NYSE: TGNA ) stock is falling on Monday following news that a buyout deal for the company is being put on hold. The merger agreement between Tenga and Standard General L.P.
FCC issued a Hearing Designation Order which in the most likely scenario is going to kill the Standard General/Tegna deal. The stock crashed >25% after market close trading around $16.30.
Standard General's proposed acquisition of Tegna faces new doubts as the FCC sent the merger to an administrative law judge, as the agency took issue with the transaction's potential to raise consumer prices and result in job losses.
Two buy scenarios for short-term and/or long-term gains. Overall win for adaptable investors. Positive trends in the ratio analysis of TEGNA's financial statements shows a good value if the trajectory continues.
Tegna (TGNA) is set to be acquired by Standard General In February 2023 as it receives approval from Team Telecom and has addressed the concerns of the Federal Communication Commission.
TEGNA Inc. (TGNA) reported earnings 30 days ago. What's next for the stock?
TEGNA's (TGNA) third-quarter 2022 results reflect growth in political and subscription revenues.
TEGNA Inc. (TGNA) reported earnings 30 days ago. What's next for the stock?
TGNA's merger agreement incentivizes Standard General to close the deal sooner rather than later. With the recent pullback in share price, investors can now buy shares and potentially make over 11% assuming the deal closes.