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Tribune Says New $681 Million Proposal Likely to Top Alden’s

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Tribune Publishing Co. will talk with a group that has offered $680.8 million for the newspaper publisher, saying it will likely beat out an accepted $634.8 million takeover offer from hedge fund Alden Global Capital.

A nonbinding bid of $18.50 a share in cash from Newslight, as Choice Hotels International Inc. Chairman Stewart Bainum Jr. and Swiss billionaire Hansjoerg Wyss have named their group, is likely to lead to a superior proposal under the terms of the Alden merger agreement, Tribune said in a statement Monday.