logo
Plus   Neg
Share
Email

Gannett Adopts Shareholder Rights Plan - Quick Facts

Gannett Co., Inc. (GCI) said its Board has adopted shareholder rights plan to protect its net operating loss carryforwards and other tax assets. The company had approximately $435 million of NOLs available as of December 31, 2019, which could be used in certain circumstances to offset future federal taxable income.

Under the rights agreement, the Board declared a non-taxable dividend of one
preferred share purchase right for each outstanding share of common stock. The rights will be exercisable only if a person or group acquires 4.99% or more of Gannett's common stock.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
House-Autry Mills, Inc. issued a recall for its 9 ounce bottles of House-Autry Tartar Sauce due to the co-manufacturer's verification of spoilage associated with the product, according to a statement published by the U.S. Food and Drug Administration or FDA. The North Carolina-based company said the product may be unsuitable for consumption. Kimberly-Clark Corp. (KMB) on Monday reported a profit for the fourth quarter that edged down from last year, hurt by higher expenses, despite 6 percent sales growth. Both adjusted earnings per share and net sales topped analysts' expectations. The company also initiated adjusted earnings and net sales growth guidance for the full-year 2021. Shares of Philips Electronics NV were gaining around 3 percent in Amsterdam trading after the Dutch consumer electronics giant reported Monday higher results in its fourth quarter. The company also proposed dividend, and said it sees growth in fiscal 2021 comparable sales and adjusted margin.
Follow RTT