One stock that dipped low on ASX – Fairfax Media Ltd
Unfavorable takeover speculation: Fairfax Media Ltd (ASX: FXJ) stock lost over 2.8% on March 31, 2017. There is a speculation floating around that any takeover bid for FXJ at the moment looks unlikely given the bid structuring expected around Domain while publishing assets are witnessing weakness. Earlier during the week, private equity company TPG Capital was understood to launch a takeover bid on FXJ. On the other hand, the group and NZME have agreed to a request from the New Zealand Commerce Commission (NZCC) to extend the target date for the NZCC’s final decision on the proposed merger of the two businesses to May 2017. Both the parties believe that their merger would improve the ability of the companies to invest in new revenue streams while delivering high quality, local journalism and content to audiences.
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