Speculation on Fairfax trade
NZPA-AAP Sydney
About 3.8 million shares in John Fairfax, Ltd, changed hands yesterday, leading to speculation that Robert Holmes a Court had lifted his stake in the media group to more than 5 per cent. Yesterday’s turnover — which represents about 1 per cent of Fairfax’s issued share capital —
was done at $9 a share. $1.50 higher than Warwick Fairfax’s $7.50 a share bid to take control of the 156-year-old company through his Tryart Pty, Ltd, takeover vehicle. At least 3 million of the shares were believed to have been crossed by brokers Dominguez Barry Samuel Montague Securities Ltd. A spokesman confirmed
DBSM had been in the market yesterday, but refused to give any further details. While analysts say any full counter bid for Fairfax is unlikely to succeed because of the Fairfax family’s control of 51 per cent, Mr Holmes a Court is believed to be interested in acquiring some of publishing group’s assets.
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Press, 16 September 1987, Page 37
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158Speculation on Fairfax trade Press, 16 September 1987, Page 37
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