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Najafi, Trinity Offer To Buy Tegna For $20/shr In Cash

Private-equity firm the Najafi Companies and Trinity Broadcasting Network have offered to buy Tegna Inc (TGNA) for $20 per share in cash. The offer reportedly values the broadcaster at about $4.4 billion.

The offer would take Tegna under private ownership.

Tegna owns 62 television stations and four radio stations in 51 markets, reaching 41.7 million television households.

TGNA closed Tuesday regular trading at $15.08, up $0.09 or 0.60 percent. In the after-hours trade, the stock further gained $2.17 or 14.39 percent.

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