Game Back On! TPG Increases Offer To $2.7 Billion For All Of Fairfax

Game Back On! TPG Increases Offer To $2.7 Billion For All Of Fairfax
SHARE
THIS



As was widely expected, US private equity firm TPG has increased its offer for Fairfax Media to $2.7 billion. The new offer is half a billion more than the original $2.2 billion announced a week ago, however, TPG would want the entire company not just select assets as per the original deal.

The Fairfax board was due to vote on the TPG offer today, however, that now seems unlikely with TPG’s new offer overnight.

Fairfax Media is this morning reporting the board is “reviewing the revised, indicative, preliminary and non-binding proposal and would update shareholders when it had been fully assessed.”

However, the new $2.7 billion offer appears well short of the $3.1 billion that Fairfax believes the company is worth in its entirety.

TPG’s original offer was only for Fairfax’s main assets including its mastheads and the highly-prized Domain real estate website. It didn’t included its assets in New Zealand, Macquarie Radio interests or 50 per cent share in the SVOD player Stan.

The Fairfax board is loathed to break-up the company and believes the unsold assets would struggle on their own.

Shareholders were apparently interested in TPG’s offer if it included all of Fairfax and the private equity firm was willing to pay the asking price of $3.1 billion. However, if TPG’s bid were to be successful, it could still sell off parts of the company and possibly restructure it.

 

 

Latest News

TAC & Taboo Urge Victorians To make Roads Safer In ‘This Christmas’
  • Media

TAC & Taboo Urge Victorians To make Roads Safer In ‘This Christmas’

The TAC and Taboo have created a high impact, interactive campaign encouraging all Victorians to play their part in making our roads safer – ‘This Christmas’. The activation is filled with thousands of brightly coloured ribbons featuring messages written by real Victorians, to encourage us to all stay safe for the merriest Christmas both on […]

NITV Announces Four Indigenous Executive Appointments
  • Media

NITV Announces Four Indigenous Executive Appointments

National Indigenous television service NITV has announced four senior Indigenous appointments who will be responsible for growing its on-air and online platforms. Rhanna Collins, a proud Palawa woman, has worked at NITV for the past four years and has been appointed as executive editor, working across the TV station’s news and current affairs digital and […]

Publicis & Qld Transport And Main Roads Department Launch #LiftLegends
  • Campaigns

Publicis & Qld Transport And Main Roads Department Launch #LiftLegends

Queensland’s Transport and Main Roads Department (TMR) and creative agency Publicis Worldwide are targeting drink-driving over the holiday season with a new road safety campaign launching this week. The campaign is encouraging people to organise a #LiftLegend to make their way home. Set to the Bette Midler classic, Wind Beneath My Wings, this is the […]

AMSRO Applauds ACCC’s Preliminary Report To Safeguard Data Privacy
  • Marketing

AMSRO Applauds ACCC’s Preliminary Report To Safeguard Data Privacy

The Association of Market and Social Research Organisations (AMSRO) today applauded the Australian Competition and Consumer Commission’s (ACCC) preliminary Digital Platforms Inquiry report and proposals to further protect the privacy of individuals across the digital landscape.

AppNexus Offers Buyers Fee-Transparent Supply-Side Platform
  • Advertising
  • Technology

AppNexus Offers Buyers Fee-Transparent Supply-Side Platform

AppNexus, a Xandr company and leader in advertising technology, has announced that agreements with many direct publishers in the AppNexus marketplace and partnerships with third-party transparency companies have facilitated one of the programmatic advertising industry’s first fee-transparent supply-side platforms (SSP), giving buyers an unprecedented level of visibility into technology fees. “Through our policies and partnerships, AppNexus […]