Business Services Industry
Fairfax fights for Finsia.
Australasian Business Intelligence, May, 2007
Byline: Madeleine Collins
May 29, 2007 (Independent Financial Adviser - ABIX via COMTEX) -- Fairfax Media has tabled an offer of $A42 million for the Financial Services Institute of Australasia's (Finsia) education division. The bid is $A6 million more than that previously offered by Kaplan, a subsidiary of the Washington Post company. The board of Finsia, which has agreed to Kaplan's offer, has rejected Fairfax MediaA's bid on the grounds that it is too conditional. As a result, Fairfax Media has sent emails to Finsia's 20,000 members to explain its bid. In order for Finsia's education unit to be sold, 50 per cent of its members must approve the transaction.
Publication Date: 28 May 2007
FINSIA EDUCATION
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