Another Setback in Gannett's Effort to Acquire Tribune Publishing

There's another setback to Gannett's $864 million hostile bid for Tribune Publishing.
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There's another setback to Gannett's (GCI) - Get Report $864 million hostile bid for Tribune Publishing (TPUB) . The Deal's Ron Orol reports an influential proxy advisory firm, Glass Lewis, urged institutional investors to support Gannett's 'just vote no' campaign against Tribune's directors. Gannett is urging shareholders to oppose Tribune's incumbent director candidates. The vote on the directors is scheduled to take place at Tribune's annual meeting on June 2. Glass Lewis said Tribune's board is 'well positioned to fully evaluate and reject any bids that seem particularly opportunistic.'