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
Marketers have made strides this year in sustainability with the number of brands rallying behind the Not Business As Usual alliance for action against climate change being a sign of the times. While sustainability efforts have gained momentum this year, 2020 is shaping up to be the year brands are really held accountable for their work in this area.
As a Marketer, the ‘Scotty from Marketing’ meme troubles me.
Clients and agencies can get stuck into a particular way of behaving and viewing the world, but there are ways to break out of our marketing echo chamber.
In this bonus last episode of this new podcast series, BrandHook MD, Pip Stocks, talks with former ANZ group general manager of marketing, Louise Eyres, talks about the importance of thinking like a customer and using intuition to solve customer painpoints.
It's a good idea. Customers really should control their data. Now I understand why it's important.
Elvin Huntsberry
Salesforce CMO: Modern marketers have an obligation to give customers control of their data
Instagram changes algorithms every time you get used to them. It really pisses me off. What else pisses me off? The fact that Instagram d...
Nickwood
Instagram loses the like in Australia; industry reacts positively
I tried www.analisa.io to see my Instagram Insight
Dina Rahmawati
7 marketing technology predictions for 2016
The saying is pretty tongue in cheek. It's not saying that marketers are bad people, nor that they don't take themselves seriously. There...
LYF Solutions
The trouble with Scotty from Marketing - The CMO view - CMO Australia
Given Scotty's failed track-record in the marketing realm the memes and the ridicule is very apt and is in no way a reflection on marketi...
denysf
The trouble with Scotty from Marketing - The CMO view - CMO Australia