Morningstar gives Trade Me takeover 50/50 odds

Wed, 21 Nov 2018

By Paul McBeth Nov. 22 (BusinessDesk) - Morningstar Research gives British private equity firm Apax Partners' $2.54 billion takeover tilt at Trade Me a 50/50 chance of success. The UK firm has been granted access to the local online auction site's books to undertake due diligence after making an indicative offer at $6.40 a share, a 25.5 percent premium. Trade Me shares soared 16 percent yesterday and were recently up a further 2.9 percent at $6.10, valuing the company at $2.42 billion. Morningstar analyst Gareth James said the bid wa...

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