Contracts & Investments
APN Outdoor assessing JCDecaux takeover offer
APN Outdoor has been reportedly offered $1 billion; the Australian major is now assessing the acquisition proposal
Australia-based APN Outdoor, which looked at merging with oOh!media last year to create a billboard advertising group, has now reportedly received an offer to be acquired by global OOH major JCDecaux SA. According to a Business Insider report, APN Outdoor has been offered $1 billion. “The board of APN Outdoor has started an assessment of the unsolicited, non-binding and conditional acquisition proposal,” says the report.
The APN Outdoor-oOh!media was stalled last year after the Australian Competition and Consumer Commission (ACCC) took the stance that the merger would likely result in a substantial lessening of competition in Australia’s OOH advertising services.
It is reported that APN is currently looking at acquiring outdoor advertising rival Adshel, a division of HT&E Limited, for about $500 million.
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