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St. Louis Post-Dispatch
St. Louis Post-Dispatch
Austin Huguelet

Post-Dispatch owner rejects purchase offer from hedge fund Alden

ST. LOUIS — The board of directors at Lee Enterprises, which owns the Post-Dispatch, on Thursday rejected a New York hedge fund's unsolicited offer to buy the company.

Lee Chairman Mary Junck said Alden Global Capital's $24-per-share offer grossly undervalued Lee and failed to recognize the strength of its business, especially its fast-growing digital news platform.

"We remain confident in our ability to create significant value as an independent company," Junck said in a news release.

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