Fairfax Media Ltd (FXJ.AX)
30 May 2017
MELBOURNE U.S. buyout firm TPG Capital Management on Friday said it would make a commitment to editorial independence if it succeeds in its A$2.76 billion ($2.05 billion) offer for Australia's oldest newspaper publisher, Fairfax Media Ltd .
* Hellman & Friedman has rival offer worth as much as A$2.87 bln
MELBOURNE, May 19 U.S. buyout firm TPG Capital Management on Friday said it would make a commitment to editorial independence if it succeeded in its A$2.76 billion ($2.05 billion) offer for Australia's oldest newspaper publisher, Fairfax Media Ltd.
May 18 Australian shares sank on Thursday dragged down by financials such as Westpac Banking Corp , after it traded ex-dividend, despite an improvement in the country's jobless rate.
SYDNEY Australia's oldest newspaper publisher Fairfax Media Ltd on Thursday said it has received a takeover bid worth as much as A$2.87 billion ($2.13 billion) from a second U.S. private equity firm, sending its shares sharply higher.
* Fairfax a casualty of the flight to online media (Recasts with second bid, adds shareholder comment, background)
* Received proposal from Hellman & Friedman to acquire 100% of shares in co at a price between $1.225 to $1.250 per share
SYDNEY, May 18 Australian newspaper publisher Fairfax Media Ltd on Thursday said it would grant due diligence access to two rival private equity bidders after U.S. buyout firm Hellman & Friedman made a surprise takeover proposal of as much as A$2.87 billion ($2.13 billion).
May 15 - Australian shares ended steady on Monday as financials and telecom stocks held on to their gains, while Fairfax Media soared on a takeover bid.
SYDNEY U.S. buyout firm TPG Capital Management on Monday raised its cash bid for Fairfax Media Ltd , offering A$2.76 billion ($2.04 billion) for the struggling Australian publisher and sending its shares to a six-year high.