It’s ‘game on’ in the battle for control of Fairfax

Fairfax Media appears extremely close to being declared ‘on the market’ as a new bidder, Hellman & Friedman, entered the auction room on Wednesday night with an indicative offer that trumped the TPG offer already on the table. This could easily mark the start of a bidding war between two US private equity groups, likely to move the 176-year-old media group into foreign hands.

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Intermediate Capital gatecrashes Argus Media auction

Sky News has learnt that ICG (LSE: 138026.L – news) – also known as Intermediate Capital Group – has tabled an offer to buy a sizeable stake in Argus, which is one of the UK’s biggest privately owned companies. ICG, which provides private debt, credit and equity across a range of industries, is an unexpected interloper into what has become one of the City’s most hotly contested auctions so far this year

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