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Lee Enterprises activist Cannell Capital says it won't initiate proxy fight

By Brian Baker ( February 4, 2019, 22:39 GMT | Insight) -- Cannell Capital, a critic of Lee Enterprises’ board of directors, said it won't pursue a proxy fight or participate in any change-of-control transaction involving the company. The activist fund “does not have the intent to, nor are they reserving the right to, engage in a control transaction or any contested solicitation for the election of directors,” according to a securities filing. Cannell, which owns 4.77 percent of Lee’s shares, had encouraged shareholders to vote against the company’s board of director nominees.Cannell Capital, a critic of Lee Enterprises’ board of directors, said it won't pursue a proxy fight or participate in any change-of-control transaction involving the company....

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