Gannett asked holders for takeover protection.
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Gannett, publisher of USA Today and about 85 other dailies, said two proposals it wants approved at the May 21 annual meeting would reduce the likelihood of a hostile takeover. A “fair price amendment” would require a vote of at least 80% of outstanding shares, instead of a simple majority, for certain business combinations including mergers. A second proposal would change directors’ terms so only one-third could be voted out at an annual meeting.