Fairfax Media shareholders approve Nine takeover bid

Fairfax brand to disappear after merger with Nine is complete early next month

Fairfax Media shareholders have approved a $4bn merger with Nine to create a multimedia company, ending the historic Fairfax brand which was founded when John Fairfax bought the Sydney Morning Herald in 1841.

The Fairfax chairman, Nick Falloon, urged shareholders to vote on the scheme and rejected an overnight offer from the former Domain chief Antony Catalano, in which he proposed to buy 19.9% of Fairfax shares and sell none core assets to return cash to shareholders.

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from The Guardian https://ift.tt/2zZ0r5y
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