Investors punish Nine after Fairfax deal announcement
Nine Entertainment has dipped below the $2bn valuation mark this afternoon as investors digest the news of the merger with Fairfax.
Following this morning’s announcement, Nine’s shares slumped 6.5% on a delayed opening at 11am while Fairfax gained 13% and Domain jumped 9%.
Nine boss Hugh Marks said the merger would provide a “compelling opportunity”
