Business Services Industry
Fairfax under siege as raider pounces.
Australasian Business Intelligence, October, 2006
Byline: Jane Schulze
Oct 19, 2006 (The Australian - ABIX via COMTEX) -- Goldman Sachs JB Were has amassed a stake of close to 8 in Australian media group John Fairfax Holdings. It acquired the scrip after the close of the market from institutions at a premium of 10, or a share price of $A5.20, for an undisclosed client. Some analysts tipped Seven Network or APN News & Media as the party behind the move, which came after the first day for media sector stocks to show some calm after a recent frenzy was triggered by new ownership laws being passed. Opinion meanwhile is divided on how good a deal Publishing & Broadcasting Limited's spin-off of its media assets into a separate entity with private equity group CVC Asia Pacific actually is. While it frees up...
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