APN confirms $500m bid for Adshel

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 


Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.
Show Comments

Blog Posts

Cannes Part 2: How Adidas is maximising digital while articulating culture

“Retail is not dead”. This was the bold statement made by, Michael Treff, president of Adidas’ digital creative agency, Code and Theory, at this year’s Cannes Lion festival of creativity.

Nickie Scriven

CEO, Zenith

Cannes Part 1: Why brands must put human interactions at the heart of their business

As a Media Juror at this year’s Cannes Lions, I was fortunate enough to attend the world’s most influential festival of creativity and listen to thought-leading marketers from around the globe.

Nickie Scriven

CEO, Zenith

4 creative skills that will be useful forever

In recent times, the clarion call from futurists, economists, marketers, educators and leaders the world over is one of slight panic, “The world is changing and you’re not ready for it!” And of course, they make a very good point.

Kieran Flanagan and Dan Gregory

Speakers, trainers, co-authors

Being an investor who has an understanding of the finance industry, I would question the validity of this article, judging by the impairm...

Rowan

How a customer-led digital transformation has helped this CMO generate $6m in incremental business

Read more

An interesting update considering that today is the easiest way it has ever been to measure contribution to the business as well as the h...

Frederic

State of the CMO 2019: Tenure shortens, pressure is on as marketers strive to demonstrate impact

Read more

I thought this was what Salesforce Audience Studio (formerly Salesforce DMP) was supposed to do. How are a CDP and a DMP different? I'm c...

Tony Ahn

Salesforce announces customer data platform

Read more

Well written Vanessa!! Agreed with your view that human experience is marketing's next frontier. Those businesses who are focused on the ...

Clyde Griffith

Forget customer experience, human experience is marketing's next frontier

Read more

Great tips for tops skills need to develop and stay competitive

Nick

The top skills needed to stay competitive in a rapidly changing workforce

Read more

Latest Podcast

More podcasts

Sign in