JCDecaux Reaches $1.2 Billion Deal For APN Outdoor

JCDecaux Reaches $1.2 Billion Deal For APN Outdoor

Outdoor media company JCDecaux has finally reached a deal to acquire rival APN Outdoor for $1.2 billion.

APN Outdoor issued a statement on the ASX this morning confirming it had entered a deal to be acquired by JCDecaux for $6.70 per share, valuing APN’s equity at $1.12 billion and its enterprise value at $1.22 billion, which is slightly higher than the original bid from JCDecaux last week.

APN’s board of directors have recommended that shareholders unanimously vote in favour of the acquisition.

James Warburton, CEO and managing director of APN, said: “The recommended acquisition of APN Outdoor by JCDecaux represents an excellent outcome for our shareholders, staff and partners.

“JCDecaux’s proposal is testament to the position APN Outdoor holds in the Australian and New Zealand media sectors, and our recent strong performance, winning and retaining key new contracts.”

The acquisition is also subject to regulatory approval by the Australian Competition and Consumer Commission.

If cleared, JCDecaux will become the second largest outdoor advertising company in Australia behind oOh!media, which acquired fellow outdoor player Adshel for $570 million over the weekend.

Allens, Cadence Advisory and Morgan Stanley are advising APN in relation to the acquisition.




Please login with linkedin to comment

APN Outdoor JCDecaux

Latest News

Mamamia Names Natalie Harvey As New CEO
  • Media

Mamamia Names Natalie Harvey As New CEO

Mamamia today announces the appointment of Natalie Harvey as Chief Executive Officer. Harvey joined Mamamia in the role of chief revenue officer in January this year and will move into the CEO role on June 1st, taking over from Co-Founder and CEO Jason Lavigne, who shifts into the role of executive-chair. Jason Lavigne said: “Mamamia […]

Shot of a young programmer working at his computer with an overlay of computer graphics
  • Media

Media-Wize Wins AUSCERT PR Account

Media-Wize calls itself "a media training and technology and cyber security PR agency". Think nerds with better hair.

Concrete Playground Debuts Innovative Urban Exploration Platform With Lexus As Launch Partner
  • Advertising

Concrete Playground Debuts Innovative Urban Exploration Platform With Lexus As Launch Partner

Concrete Playground announced the launch of its redesigned website in partnership with Lexus. This partnership introduces a new era of urban discovery, enabling a deeper, more intuitive engagement with cities through a state-of-the-art digital platform. Revolutionised Digital Experience Concrete Playground’s website has undergone a significant transformation, designed to enhance the way users interact with their […]