A PYMNTS Company

Australia: Antony Catalano tries to stop Fairfax Nine merger

 |  November 18, 2018

Former Domain CEO Antony Catalano has thrown in an eleventh hour attempt to stop the merger of Nine Entertainment and Fairfax Media, but is not interested in making a full takeover bid for the publisher.

Mr Catalano wrote to Fairfax chairman Nick Falloon on Sunday night, November 18, with a proposal to buy 19.9% of the publisher and prevent its merger with Nine. He has asked for a meeting of shareholders, due to take place on Monday, to be delayed so shareholders can consider his offer, which is conditional on the merger being defeated and him being given a seat on the Fairfax board.

“The timing is not a deliberate attempt to disrupt the deal at the last minute,” Mr Catalano told The Sydney Morning Herald and The Age late on Sunday. He said that when the share price was higher, the deal was “good” but at the current 61.6¢ it was “a terrible deal.”

Full Content: Sidney Morning Herald
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.