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Stock Alert: TEGNA Shares Up 28% On Reported Gray Television Offer

Shares of TEGNA Inc. (TGNA) are rising above 28% in pre-market today, after Reuters reported that U.S. regional TV station operator Gray Television Inc. has made an offer to acquire Tegna Inc. for about $8.5 billion, including debt, citing people familiar with the matter.

Tegna also has an offer from a private equity firm Apollo Global Management Inc. to consider, the report said.

TGNA stock has been trading between $13.22 and $18.30 in the past one year, and closed Thursday's trade at $13.44, down 89 cents or 6.21%. The stock is currently trading at $17.30, up $3.85 or 28.62% in pre-market session.

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