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Benzinga
Benzinga
Business
Henry Khederian

DallasNews (DALN) Stock Soars Over 200% On Hearst Acquisition News

Hearst Nasdaq The Dallas Morning News
Double,Exposure.,Technical,Candlestick,Price,Chart,,Up,And,Down,Trend,

Shares of DallasNews Corp (NASDAQ:DALN) are surging dramatically Thursday after the company entered into a definitive agreement to be acquired by media giant Hearst for $14.00 per share in an all-cash deal.

What To Know: The acquisition price represents a 219% premium over DallasNews' closing stock price of $4.39 on July 9. The deal, which has received unanimous approval from both companies’ boards of directors, is expected to be finalized in the third or early fourth quarter of this year.

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