Trade Me Group Ltd [NZX:TME] Share Price Rises By 2.50%

Trade Me Group Ltd’s share price has surged today by over 2%.

Trade Me is New Zealand’s most popular auction platform — listing everything from property to cars to pets. Trade Me currently has a stock value of $6.14. It has a market capitalisation of $2.44 billion.

 

Why the increase for Trade Me?

Last week, Trade Me received a $2.5 billion takeover offer from British private-equity firm Apax Partners, which made a proposal of $6.40 per share.

However, since then, the stakes have gone up. Rumours are now circulating that American private-equity firm Hellman & Friedman is currently considering a bid for Trade Me.

This would put Hellman & Friedman in direct competition with Apax.

This possibility of a bidding war has uplifted market sentiments for Trade Me.

 

What’s next for [NZX:TME] shares?

Apax has until 12 December to settle on a final bidding offer.

However, if Hellman & Friedman does decide to toss their hat into the ring, we could see an active struggle emerge between the two private-equity firms.

As investors hold their breaths and await news, we anticipate a buoyant trajectory for Trade Me shares.

 

 

Best,

 

Taylor Kee

Editor, Money Morning NZ

 

 

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Taylor Kee is the lead Editor at Money Morning NZ. With a background in the financial publishing industry, Taylor knows how simple, yet difficult investing can be. He has worked with a range of assets classes, and with some of the world’s most thought-provoking financial writers, including Bill Bonner, Dan Denning, Doug Casey, and more. But he’s found his niche in macroeconomics and the excitement of technology investments. And Taylor is looking forward to the opportunity to share his thoughts on where New Zealand’s economy is going next and the opportunities it presents. Taylor shares these ideas with Money Morning NZ readers each day.


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