Fairfax takeover: TPG raises offer price to $2.7 billion

By Editor 0 Comments NEWS, Uncategorised

U.S. private equity firm TPG has raised its offer for the Australian publisher Fairfax Media.

Private equity firm TPG has revised its indicative proposal to acquire the whole of Fairfax Media for $2.7 billion.

TPG's initial offer to acquire the media giant was at at 95 cents per share and included Fairfax's real estate advertising arm Domain and its major mastheads, the Sydney Morning Herald, The Age and the Australian Financial Review, reports the ABC.

In February, Fairfax requested a trading halt, which fueled speculation that it was to announce the sale of its real estate business Domain.

Fairfax is said to be reviewing TPG's current offer of $2.7 billion, but notes there are no guarantees it will lead to a firm offer or that the conditions, such as price, of a final offer will remain the same.

The company said it is continuing to progress its own plan to potentially separate the Domain real estate business from the rest of Fairfax.

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