Business Services Industry
US Harris snaps up 5pc of Fairfax.
Australasian Business Intelligence, November, 2002
Nov 10, 2002 (The Sydney Morning Herald - ABIX via COMTEX)
US investment company, Harris Associates, has acquired a 5.01 interest in John Fairfax Holdings. On 1 November 2002, Harris bought 787,000 shares in the Australian newspaper publisher at $A2.86 a share. Several local fund managers said Harris probably acquired the Fairfax stake in anticipation of a recovery in the advertising market. One fund manager said Fairfax would benefit from any turnaround in the advertising sector. Harris's David Herro had previously stated that acquiring stakes in Australian companies such as Fairfax was an important part of his company's investment strategy.
Publication Date: 11 November 2002
JOHN FAIRFAX HOLDINGS LIMITED - ASX
FXJ:
HARRIS...
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