Britain's Apax wins over Trade Me, matching rival $2.56B offer

Tue, 11 Dec 2018

By Paul McBeth Dec. 12 (BusinessDesk) - British private equity firm Apax Partners has won over Trade Me's board, lifting its offer to match rival Hellman & Friedman's $2.56 billion. New Zealand's dominant online marketplace has agreed to a scheme of arrangement with Apax for the British firm to pay $6.45 a share. Trade Me's board will unanimously back the deal, provided it's within an independent valuation range, but it also left the door open to consider a better offer if one unexpectedly emerges. "We’re confident Trade Me would hav...

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