Gannett hikes offer for Tribune Publishing

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Newspaper publishing giant Gannett Co. upped its bid for Tribune Publishing Monday to about $864 million. Gannett (NYSE: GCI) upped its offer to $15 per share after an earlier bid was rejected by Tribune’s board of directors. The revised offer almost doubles Tribune’s closing price of $7.52 per share on April 22, the last trading day before Gannett revealed its initial offer of $12.25. Shares of Chicago-based Tribune Publishing (NYSE: TPUB) were up 27 percent in pre-market trading Monday to…