The FT is reporting that Guardian Media Group has rejected an improved offer by Apax to purchase GMG’s 50.1% stake in Trader Media. The new offer valued Trader Media at about £1.5bn, including net debt of about £560m. Apax’s previous offer valued the business at £1.2 billion. An IPO now seems the most likely outcome.
UK, London
Related articles:
- Guardian owner calls off talks over Trader Media Posted on January 24, 2013
- Guardian to make redundancies as losses increase Posted on July 18, 2012
- Guardian News & Media sell paidContent to GigaOM Posted on February 8, 2012
- Guardian Media Group and Apax split £100M dividend from Trader Media Group Posted on August 8, 2011
- Guardian News & Media acquires UnLtdWorld Posted on March 3, 2011
- Apax Partners and Guardian Media Group discuss the future of Trader Media Group Posted on October 18, 2010
- Andrew Miller appointed chief executive officer of Guardian Media Group Posted on July 5, 2010
- Trinity Mirror plc to acquire GMG Regional Media Posted on February 9, 2010
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