Business Services Industry
Fairfax loses bid for Finsia.
Australasian Business Intelligence, June, 2007
Byline: Tim Boreham
Jun 18, 2007 (The Australian - ABIX via COMTEX) -- Banking and financial services sector professional association Finsia will divest its education business to Kaplan. The US-based buyer, an off-shoot of the Washington Post Company with annual revenue of $A1.7bn worldwide, will pay $A36m after some 60 of Finsia members voted in favour. Participation was low at just 20 of the 17,000 professionals entitled to cast their votes. A counter-offer by Australian mass media group Fairfax Media, which had sought to strengthen its business journalism division through the acquisition, was rejected as too laden with conditions.
Publication Date: 19 June 2007
FAIRFAX MEDIA LIMITED - ASX FXJ
FINSIA EDUCATION
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