No go: TPG says it has exited the Fairfax due-diligence process. – Reuters
MELBOURNE: TPG Capital has pulled out of the running to buy Fairfax Media Ltd, leaving US private equity firm Hellman & Friedman LLC as the potential sole bidder for the Sydney-based publisher.
TPG said it had “exited the Fairfax due-diligence process” and decided not to proceed with an offer for the company, according to an emailed statement from a TPG spokesman to Bloomberg.
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