DallasNews Corporation shares rise 1.09% intraday after rejecting MNG Enterprises' acquisition proposal.

DallasNews Corporation rose 1.09% intraday, following the cancellation of an acquisition proposal by MNG Enterprises, Inc. The company's Board of Directors rejected an unsolicited, non-binding proposal from MNG Enterprises, Inc. to acquire all of the issued and outstanding shares of the Company’s common stock at a price of $16.50 per share in cash. Additionally, Hearst increased its offer to $15.00 per share, which may have contributed to the stock's positive movement.