Deals
Tegna Falls Most Since 2008 After Apollo Is Said to End Talks
- Broadcaster tumbles 27% as two bidders break off discussions
- Tegna chairman says board remains willing to consider offers
Tegna Inc. headquarters in McLean, Virginia.
Photographer: Andrew Harrer/BloombergThis article is for subscribers only.
Shares of Tegna Inc. fell the most since November 2008 on Monday after Apollo Global Management Inc. ended its pursuit of the broadcaster, the second suitor to withdraw an offer during the turmoil in global markets.
Tegna fell as much as 27% to $9.61 in New York, valuing the company at about $2.1 billion.