Standard General is said to have sent a letter to Sen. Elizabeth Warren (D-MA) seeking to meet regarding her comments on the Tegna (NYSE:TGNA) deal, according to a tweet from a Dealreporter correspondent.
The letter comes after Warren sent a letter Wednesday to the Federal Communications Commission asking the agency to block Standard General’s acquisition of Tegna. News of the letter sent Tegna shares down 3.3% on Thursday and they ticked lower 0.7% on Friday.
The Warren push comes after Standard General last month offered some remedies to the regulators including waiving some certain contractual rights in an effort to appease regulators at the FCC and the Dept. of Justice.
Warren in the letter argued that the behavioral remedies “are historically ineffective and should provide no comfort that these Wall Street firms will not engage in anticompetitive practices after the deal is completed.”
Dealreporter last month that Standard General’s offer was likely to resolve the FCC’s and the Dept. of Justice’s concerns.