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NZ's Trade Me gets second, higher buyout offer for $1.8 billion

Reuters  |  WELLINGTON 

By Charlotte GreenfieldWELLINGTON (Reuters) - New Zealand's top online marketplace Trade Me Group said it has received a NZ$2.56 billion ($1.8 billion) buyout proposal from a U.S. private-equity firm, trumping a rival offer and setting the stage for a possible bidding war.The offer adds to a flurry of deals made this year in Australia and New Zealand - attractive for private-equity firms given their stable and advanced economies that offer a steady cash flow amid a global financial market rout. California-based Hellman & Friedman offered NZ$6.45 per share for Trade Me, or NZ$0.05 higher than ...

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First Published: Wed, December 05 2018. 12:22 IST