Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

The TPG Consortium (collectively TPG Group, Ontario Teacher’s Pension Plan Board [&amp; affiliates]) has <a href="http://www.asx.com.au/asxpdf/20170515/pdf/43j81hwvsxdhch.pdf" target="_blank">issued</a> a revised indicative proposal for 100% of <a href="https://www.smartkarma.com/entities/8996" target="_blank" data-smartkarma-citation="entities:8996:1">Fairfax Media Ltd (FXJ AU)</a> at A$1.20/share, less any dividends proposed or paid after 14 May 2017.The revised offer compares to the indicative <a href="http://www.asx.com.au/asxpdf/20170508/pdf/43j2zgsf5mgk1q.pdf" target="_blank">proposal</a> last week which involved paying cash for <a href="http://www.domain.com.au/group/" target="_blank">Domain</a> and FXJ's mastheads and leaving FXJ shareholders with regional newspapers, radio ops and other less-than-exciting businesses.  That clunky, inter-conditional proposal appears to have a faced a tepid reception from shareholders which TPG has swiftly (attempted) to remedy with a full cash offer.Below the fold, for subscribers, is a recap of the revised offer and comments on how it may be received.

The TPG Consortium (collectively TPG Group, Ontario Teacher’s Pension Plan Board [&amp; affiliates]) has issued a revised indicative proposal for 100% of Fairfax Media Ltd (FXJ AU) at A$1.20/share, less any dividends proposed or paid after 14 May 2017.The revised offer compares to the indicative proposal last week which involved paying cash for Domain and FXJ's mastheads and leaving FXJ shareholders with regional newspapers, radio ops and other less-than-exciting businesses.  That clunky, inter-conditional proposal appears to have a faced a tepid reception from shareholders which TPG has swiftly (attempted) to remedy with a full cash offer.Below the fold, for subscribers, is a recap of the revised offer and comments on how it may be received.

United Kingdom

Reach PLC operates as a newspaper publisher. The Company publishes current affairs and sports news, political stories, and editorials through web sites, magazines, and exhibitions. Reach serves customers in the United Kingdom.

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Reach (RCH LN)

Fairfax – New Offer for New Media

The TPG Consortium (collectively TPG Group, Ontario Teacher’s Pension Plan Board [& affiliates]) has issued a revised indicative proposal for...

David Blennerhassett

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