A shareholder in Tribune Media Co. has filed a new class action complaint in Delaware federal court, alleging that a proposed $3.9 billion merger with Sinclair Broadcast Group Inc. undervalued the Chicago-based conglomerate and boxed other potential buyers out of the bidding process.
July 18, 2017 at 04:09 PM
1 minute read
A shareholder in Tribune Media Co. has filed a new class action complaint in Delaware federal court, alleging that a proposed $3.9 billion merger with Sinclair Broadcast Group Inc. undervalued the Chicago-based conglomerate and boxed other potential buyers out of the bidding process.
The latest challenge, from shareholder David Pill, now joins two others in trying to halt the deal under the Securities and Exchange Act of 1934.
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