APN Outdoor Outbids oOh!media With $500m Offer For HT&E’s Adshel

APN Outdoor Outbids oOh!media With $500m Offer For HT&E’s Adshel
B&T Magazine
By B&T Magazine



It appears Adshel is hot property in the out-of-home media world, APN Outdoor now coming to the bidding table with a whopping $500 million offer.

After receiving oOh!media’s revised offer of $470 million for Adshel, parent company Here, There & Everywhere (HTE) said in a statement to shareholders last night that it had received another offer, and that oOh!media’s 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 that it was in fact the company that had submitted an offer for Adshel, which it confirmed this morning was worth $500 million.

“Adshel’s street furniture business would provide an attractive compliment to [APN Outdoor]’s existing out-of-home product offering,” the statement read.

“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.”

It was only in late 2016 that oOh!media and APN Outdoor proposed a $1.6 billion merger, which was later scrapped after the ACCC expressed competition concerns.




Latest News

Sydney Comedy Festival: Taking The City & Social Media By Storm
  • Media

Sydney Comedy Festival: Taking The City & Social Media By Storm

Sydney Comedy Festival 2024 is live and ready to rumble, showing the best of international and homegrown talent at a host of venues around town. As usual, it’s hot on the heels of its big sister, the giant that is the Melbourne International Comedy Festival, picking up some acts as they continue on their own […]

Global Marketers Descend For AANA’s RESET For Growth
  • Advertising

Global Marketers Descend For AANA’s RESET For Growth

The Australian Association of National Advertisers (AANA) has announced the final epic lineup of local and global marketing powerhouses for RESET for Growth 2024. Lead image: Josh Faulks, chief executive officer, AANA  Back in 2000, a woman with no business experience opened her first juice bar in Adelaide. The idea was brilliantly simple: make healthy […]