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Fairfax shareholders cool to TPG's A$2.2 billion play for publishing giant

Rebuff means TPG consortium will need to raise indicative offer price of 95 Australian cents per share


US BUYOUT firm TPG Capital Management led a A$2.2 billion (S$1.6 billion) approach for most of struggling Australian newspaper publisher Fairfax Media Ltd, a move Fairfax shareholders quickly rebuffed as too low.

The cool response suggests TPG and partner the Ontario...

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