Fairfax Media Limited shares up on Seven West Media Ltd takeover rumour

Flailing media group Fairfax Media Limited (ASX: FXJ) is near the top of the S&P/ASX 200 gains list with share prices up close to 5% to 68c per share off the back of fresh rumours surrounding a takeover by Seven West Media Ltd (ASX: SWM).

Fairfax takeover speculation has been simmering for some time as the stock has been stuck in reverse, with the $1.5 billion market cap company bottoming out back in November 2017 when it cast off online real estate arm Domain Holdings Australia Ltd (ASX: DHG).

But Seven West Media has had its own troubles in the last 12-months as its share price has ditched out from 73c per share at this time last year to 49c today, despite being up 0.4%.

Other potential takeover suitors for Fairfax have included Nine Entertainment Co Holdings Ltd (ASX: NEC) who reportedly had an interest in Fairfax last year, after TPG Capital walked away from takeover talks where Fairfax would control 35% of the entity that was merged with Nine.

Other potential takeover partners could include Macquarie Group Ltd (ASX: MQG) – Macquarie has already completed some good due diligence on Fairfax in its advisory capacity.

A situation to keep a close eye on for shareholders who have struggled along with Fairfax’s dwindling returns and share price.

OUR #1 dividend pick to grow your wealth over the new financial year is revealed for FREE here!

Financial year 2018 is here and The Motley Fool’s dividend detective Andrew Page has revealed his must buy dividend share to grow your wealth in 2018.

You might not know this market leader's name, but it's rapidly expanding into a highly profitable niche market here in Australia. Even better, the shares boast a strong, fully franked dividend that should balloon in the years to come. In other words, we're looking at the holy grail of incredible long-term growth potential AND income you can watch accruing in your account in real time!

Simply click here to grab your FREE copy of this up-to-the-minute research report on our #1 dividend share recommendation now.

Motley Fool contributor Carin Pickworth has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

5 ASX Stocks for Building Wealth After 50

I just read that Warren Buffett, the world’s best investor, made over 99% of his massive fortune after his 50th birthday.

It just goes to show you… it’s never too late to start securing your financial future.

And Motley Fool Chief Investment Advisor Scott Phillips just released a brand-new report that reveals five of our favourite ASX stocks for building wealth after 50.

– Each company boasts strong growth prospects over the next 3 to 5 years…

– Most importantly each pays a generous dividend, fully franked.

Simply click here to find out how you can claim your FREE copy of “5 ASX Stocks for Building Wealth After 50.”

See the stocks now