The TPG Consortium has proposed to buy Fairfax Media Limited
(ASX:FXJ) with a combination of cash and a consideration to form a newly listed vehicle.
The media company received a non-binding indicative proposal, from the TPG Consortium, which includes TPG Group
(ASX:TPM) and Ontario Teachers’ Pension Plan Board, together with its affiliates to buy Fairfax.
The proposal, if implemented, would involve the TPG Consortium buying Domain, Australia Metro Media, Events and Digital Ventures for 95 cents, cash per share.
Fairfax shareholders would retain 100% of Australia Community Media, New Zealand Publishing and shareholdings in Macquarie Media Limited and Stan.
The Fairfax board says it’s reviewing the proposal and but notes there is no certainty of it being implemented.
Shares in Fairfax Media Limited
(ASX:FXJ) last traded 2.36% higher to $1.09.
