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Nine Welcomes the Decision by the ACCC to Not Oppose the Proposed Merger of Nine and Fairfax

Nine Welcomes the Decision by the ACCC to Not Oppose the Proposed Merger of Nine and Fairfax

Nine Welcomes the Decision by the ACCC to Not Oppose the Proposed Merger of Nine and Fairfax

Nine Welcomes the Decision by the ACCC to Not Oppose the Proposed Merger of Nine and Fairfax

Nine Entertainment Co. Holdings Limited (Nine) (ASX:NEC) today welcomed the decision by the Australian Competition and Consumer Commission (ACCC) to not oppose the proposed merger of Nine and Fairfax, via a Scheme of Arrangement (Scheme).

The implementation of the Scheme remains subject to the approval of Fairfax shareholders (at the meeting scheduled for 19 November 2018), final court approval (27 November 2018) and the satisfaction, or where applicable waiver, of certain other conditions as outlined in the Scheme Implementation Agreement lodged with the ASX on 26 July 2018.  If all conditions are satisfied or waived, implementation is scheduled for 7 December 2018. 

The Directors of Fairfax unanimously recommend that Fairfax shareholders vote in favour of the Scheme, in the absence of a superior proposal.  Each Fairfax Director intends to vote in favour of the Scheme, in relation to the Fairfax shares held or controlled by him or her.  The Independent Expert, Grant Samuel, as detailed in the Scheme booklet, has concluded that the Scheme is in the best interests of Fairfax Shareholders, in the absence of a superior proposal.

Further information:

Nola Hodgson
Head of Investor Relations
+61 2 9965 2306
nhodgson@nine.com.au

Nic Christensen
Head of Trade and Internal Communications
nchristensen@nine.com.au

Thursday, November 8, 2018

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Acknowledgement: Nine acknowledges the traditional custodians of Country, and the connections of First Nations people to the lands and waterways on which we work and live. We pay our respects to elders past and present, and we commit to listening, learning and acting on our journey towards reconciliation.

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