TPG-led group makes $1.6 bln bid for Fairfax Media assets: Reuters
A consortium led by U.S. private equity firm TPG Capital made a A$2.2 billion (US$1.63 billion) cash proposal to acquire Fairfax Media Ltd's metropolitan newspapers and Domain real estate classifieds unit, Reuters reported, citing a statement by the Australian media group. The proposal would involve shareholders retaining scrip exposure to the company's regional and New Zealand newspaper assets as well as its radio and digital streaming divisions. Fairfax, owner of The Sydney Morning Herald and The Australian Financial Review, said its board of directors was reviewing the proposal from the TPG-led consortium, which also included Ontario Teachers' Pension Plan Board.
8 May 2017•2 mins read
