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Fairfax Media receives competing bid from Hellman & Friedman

AFR |  18 May 2017  |  Investing

Fairfax Media has received a competing bid from global private equity firm Hellman & Friedman valuing the publisher at up to $2.87 billion.

From global private equity firm Hellman & Friedman, the bid is for a range of $1.225 to $1.25 per share, compared with the TPG consortium proposal of $1.20.

The competing bid values Fairfax between $2.82 billion and $2.87 billion versus the TPG consortium proposal of $2.76 billion.

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The board has considered both indicative proposals and will invite both the TPG consortium and Hellman & Friedman to conduct due diligence in order to establish if an acceptable binding transaction can be agreed.

Read More: http://www.afr.com/business/media-and-marketing/publishing/fairfax-media-receives-competing-bid-from-hellman--friedman-20170517-gw7drr

 

 

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