Australian group Credible Labs to be bought by Fox Corp for $ 397 million

(Reuters) – Consumer Lender Credible Labs Inc. (CRD.AXMonday said it had reached a definitive deal for its acquisition by a unit of Fox Corp. (FOXA.O), valued at A $ 585 million ($ 397 million)

Under the terms of the agreement, US-Credible Labs, a company listed on the Australian Stock Exchange, said its shareholders would receive 2.21 Australian dollars in cash per CHESS deposit interest (CDI), which represents 55.25 Australian dollars per common share of Credible.

($ 1 = $ 1.4728 Australian dollar)