Fairfax Media Limited
(ASX:FXJ) has received a revised indicative proposal from the TPG Consortium to buy 100% of the shares in Fairfax for $1.20 cash per share.
The media company received the revised, indicative, preliminary and non-binding proposal yesterday [14 May 2017], from the TPG Consortium, which includes TPG Group
(ASX:TPM) and Ontario Teachers’ Pension Plan Board, together with its affiliates.
The revised proposal to buy 100% of Fairfax Media in cash, excludes the value of dividends and distributions declared, proposed or paid after 14 May 2017.
The Fairfax board says it’s reviewing the proposal and is also continuing to prepare for the potential separation of Domain Group.
Shares in Fairfax Media Limited
(ASX:FXJ) are trading flat at $1.07.
