UPDATE 1-TPG-backed consortium makes $1.6 bln offer for Fairfax metro newspapers, real estate arm

SYDNEY, May 8 (Reuters) - A consortium led by U.S. private equity firm TPG Capital made a A$2.2 billion ($1.63 billion) cash proposal to acquire Fairfax Media Ltd's metropolitan newspapers and Domain real estate classifieds unit, the Australian media group said on Monday.

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