All eyes on NZME
Last week NZME Limited (ASX: NZM) and Fairfax Media Limited (ASX: FXJ) announced a merger agreement between NZME and Fairfax New Zealand Limited. As part of the merger, NZM will acquire Fairfax NZ for a 41% shareholding in the combined entity and NZ$55m in cash. On a standalone basis, we believe NZME represents good value as it is trading at an attractive valuation. The potential merger with Fairfax Media will provide synergy opportunities and operational efficiencies that could drive earnings growth as a combined group in the future. Shares in NZME closed down 2.7% for the week and shares in Fairfax closed down 2.6%. We own NZME as a market-driven investment in the WAM Active and WAM Capital portfolios
Never miss an update
Enjoy this wire? Hit the ‘like’ button to let us know.
Stay up to date with my current content by
following me below and you’ll be notified every time I post a wire
Wilson Asset Management has a track record of making a difference for shareholders and the community for 25 years and is the investment manager for eight LICs - WAM Capital (ASX: WAM), WAM Leaders (ASX: WLE), WAM Global (ASX: WGB), WAM Microcap (ASX: WMI), WAM Alternative Assets (ASX: WMA), WAM Strategic Value (ASX: WAR), WAM Research (ASX: WAX) and WAM Active (ASX: WAA) - and the Wilson Asset Management Leaders Fund. Wilson Asset Management invests over $5 billion on behalf of more than 130,000 retail investors. Wilson Asset Management created and is the lead supporter of the first LICs to deliver both investment and social returns: Future Generation Australia (ASX: FGX) and Future Generation Global (ASX: FGG).
2 stocks mentioned
Wilson Asset Management
Wilson Asset Management has a track record of making a difference for shareholders and the community for 25 years and is the investment manager for eight LICs - WAM Capital (ASX: WAM), WAM Leaders (ASX: WLE), WAM Global (ASX: WGB), WAM Microcap...
Wilson Asset Management
Wilson Asset Management has a track record of making a difference for shareholders and the community for 25 years and is the investment manager for eight LICs - WAM Capital (ASX: WAM), WAM Leaders (ASX: WLE), WAM Global (ASX: WGB), WAM Microcap...
Comments
Comments
Sign In or Join Free to comment