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Investing.com -- DallasNews Corporation (NASDAQ:DALN) shares jumped 18.1% after the company announced it received an unsolicited acquisition proposal from MNG Enterprises, an affiliate of Alden Global Capital, offering $16.50 per share in cash.
The new bid represents a premium of $2.50 per share over the existing merger agreement with Hearst, which was announced on July 9, 2025, at $14.00 per share in cash.
DallasNews’ board of directors is reviewing the MNG proposal with its legal and financial advisors, as required by its fiduciary duties. The company remains bound by the terms of its existing agreement with Hearst, and the board has not changed its recommendation supporting that transaction.
The company, which serves as the holding company for The Dallas Morning News and Medium Giant, stated it will provide further updates to shareholders regarding its review of the competing proposals. The Dallas Morning News is a daily newspaper that has received nine Pulitzer Prizes, while Medium Giant operates as an integrated creative marketing agency with offices in Dallas and Tulsa.
No timeline was provided for when the board might complete its review of the competing offers.
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