More Tribune Publishing investors are speaking out after the company rejected a buyout bid from Gannett and instead accepted an equivalent offer from Los Angeles billionaire Patrick Soon-Shiong, The Los Angeles Times reports. Its third-largest shareholder, Oaktree Capital Management and St. Louis investment firm Towle & Co criticized the transaction as a “disturbing development” and have raise the prospect of litigation.

For reprint and licensing requests for this article, CLICK HERE.