APN Outdoor enters trading halt ahead of anticipated JC Decaux deal
APN Outdoor has been placed in a trading halt on the ASX this morning, pending an announcement from the company.
The announcement is expected to be its acquisition by international outdoor company JC Decaux, which initially bid $1.1 billion for APN Outdoor – which APN Outdoor at the time believed was too low.
There is likely to be more consolidation in Australia’s outdoor media industry this week
The news comes as APN Outdoor’s main rival Ooh Media has announced its acquisition of JC Decaux’s biggest competitor in the outdoor street furniture space, Adshel.
