ASX-listed out-of-home provider's bid tops that offered by oOh!Media earlier this week
The bidding war for Adshel is heating up. APN Outdoor Group has confirmed it’s put in a $500 million bid for rival out-of-home provider, Adshel, an acquisition it says would complement its Australian product offering.
The ASX-listed company confirmed today it had entered a confidential, indicative and non-binding proposal to acquire Adshel, a deal subject to a range of conditions and regulatory approval.
The deal is the second offer in as many days for Adshel, topping the $470 million now being offered by rival player, oOh!Media. This is the second such offer to be lodged by oOh!Media, presented after the group’s first attempt to buy Adshel from owner, HT&E, failed in April.
“Adshel’s street furniture business would provide an attractive complement to APO’s existing out-of-home product,” the company stated to the ASX. “APO also expects a range of value accretive cost synergies due to efficiencies in combining the two businesses.
“At this early stage, no agreement has been reached between the parties and there is no certainty that the proposal will result in any transaction.”
APN Outdoor manages more than 36,000 out-of-home units in locations nationally. Adshel, meanwhile, claims to have more than 15,000 touchpoints across Australia.
Follow CMO on Twitter: @CMOAustralia, take part in the CMO conversation on LinkedIn: CMO ANZ, join us on Facebook: https://www.facebook.com/CMOAustralia, or check us out on Google+:google.com/+CmoAu
It's been an incredibly tough three months for the Star as it shut its doors and stood down staff in response to the COVID-19 lockdown. Yet innovation has shone through, and if the CMO, George Hughes, has anything to say about it, such lateral thinking will continue as we start to recover from the crisis.
For businesses and advertiser categories currently experiencing a slowdown in consumer activity, now is the optimal time to get started on projects that have been of high importance, but low urgency.
The effects of the coronavirus slammed the brakes on retail sales in pubs, clubs and restaurants. Fever-Tree’s Australia GM Andy Gaunt explains what they have learnt from some tricky months of trading
There is much talk about what VOZ will bring to the media industry. New ways to slice and dice audiences and segments. A clearer understanding of screen consumption. Even new ways to plan and buy. The most interesting result could be finding something many thought we lost - younger viewers, specifically the valuable 18-39s.
We would like to invite you to the Virtual Exhibition about IoT Trends in 2020, 7 - 9 July, organised by Must.We developed a new B2B matc...
hayfa
Want to master digital transformation? Stop thinking about your own problems
We have been trying to help our clients through this time. I think the important thing is clear communication! We also created some check...
Erin Payne
Is COVID-19 the right time for a positive marketing campaign?
Very good article Sagar. Congrats! It's exactly what we are doing at Dafiti and it's very important have you close to us into this journey.
Roosevelt Junior
Making Your Organisation Data-Driven [MYOD] - Data-driven marketing - CMO Australia
Corporates should be innovating to stay relevant and disrupt the market and collaborating with startups is easily the best way to go for ...
Diana
How your company can innovate its way through the COVID-19 crisis
Very welll written Sagar and gives an excellent overview for data strategy for an orgaanization!
Ritvik Dhupkar
Making Your Organisation Data-Driven [MYOD] - Data-driven marketing - CMO Australia