oOh!media Acquires Here, There & Everywhere-Owned Adshel For $570M

oOh!media Acquires Here, There & Everywhere-Owned Adshel For $570M
SHARE
THIS



oOh!media has acquired Here, There & Everywhere-owned Adshel for $570 million.

The move follows a bidding war between oOh!media and APN Outdoor for the outdoor street furniture business.

In April, Here, There & Everywhere (HT&E) received a revised offer of $470 million from oOh!media for Adshel, however, HT&E claimed it wasn’t the “most attractive” one on the table.

“HT&E had offered to engage with [oOh!media] to enable it to more appropriately value Adshel so as to improve their price, including by providing further due diligence financial information subject to execution of a confidentiality agreement and on a non-executive basis,” the statement read.

At the exact same time, APN Outdoor released a statement on the ASX saying it had also submitted an offer for Adshel worth $500 million.

APN Outdoor then offered $540 million for Adshel late last week, hours after APN Outdoor had itself been bid on by global outdoor company JCDecaux.

A formal ASX release will be posted online tomorrow (Monday) morning.

It is likely Adshel will be absorbed into oOh!media, leaving HT&E with only radio assets.

More to come.

Latest News

Virtue Announces New Key Hires, Campaigns And Partnerships In Australia
  • Marketing
  • Media

Virtue Announces New Key Hires, Campaigns And Partnerships In Australia

Creative agency VIRTUE has introduced a number of key hires, innovative campaigns and an expanding roster of clients within its newly established Sydney office. VIRTUE is the creative agency born from global youth media company VICE, and will service the whole of Asia-Pacific from three offices in Sydney, Singapore and Seoul. The agency aims to […]

Surfing is a way of living in Australia and young and mature sporty women go surfing every morning.
  • Technology

#StartWithThem: What Makes Twitter’s Aussie Audience Unique

In a global study conducted across 23 markets, we investigated why people turn to Twitter and what makes their experience unique and special on our platform. The results were fascinating, as they were largely consistent across the globe: Twitter’s audience operates in a receptive mindset when using the platform, and the audience is also highly […]

QMS Unveils New Billboard In Melbourne’s Bayside
  • Media

QMS Unveils New Billboard In Melbourne’s Bayside

QMS has officially launched ‘The Bayside,’ dominating the landscape in the heart of one of Melbourne’s fastest-growing coastal suburbs and gateway to the popular Mornington Peninsula. Strategically situated on the Nepean Highway, one of Melbourne’s primary connector arterials, ‘The Bayside’ captures the attention of heavy flowing traffic along the shore of Port Phillip Bay. With […]

Coles Local Appoints Keep Left To Creative & Content Account
  • Advertising

Coles Local Appoints Keep Left To Creative & Content Account

Keep Left has been awarded the creative and content account for Coles Local, an exciting new retail offering from Coles Supermarkets. Coles Local is designed to inspire a love of quality food and provide a tailored, in-store culinary experience for the local community.  The first Coles Local store opened in Melbourne’s Surrey Hills on 13 […]

Disrupt Yourself Before Someone Else Does
  • Opinion

Disrupt Yourself Before Someone Else Does

Michelle Gibbings (pictured below) is a change leadership and career expert and founder of Change Meridian. She is also the author of Step Up: How to Build Your Influence at Work and Career Leap: How to Reinvent and Liberate your Career. In this guest post, Gibbings says career change is inevitable, so best start planning for […]