Trade Me attracts another suitor with a sweeter offer

Tue, 04 Dec 2018

By Paul McBeth Dec. 5 (BusinessDesk) - Trade Me has attracted a second private equity suitor willing to pay $2.56 billion for the country's dominant online marketplace. The Wellington-based company today said it's received a non-binding indicative offer from Hellman & Friedman at $6.45 a share, trumping an earlier indicative bid from UK private equity firm Apax Partners at $6.40 a share, or $2.54 billion. Apax is doing due diligence on the New Zealand business, but Trade Me is allowed to engage with parties lobbing in unsolicited bid...

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