Here, There & Everywhere denies takeover bid speculation
Here, There & Everywhere is not aware of discussions relating to a takeover bid for its business, the company told the ASX.
The business – which owns ARN, Adshel, Conversant Media and Emotive – has responded to industry speculation this morning around a takeover bid, proposed by Ooh Media.
HT&E has said it was not aware of discussions surrounding a takeover bid
An article from The Australian’s Dataroom section this morning reported Ooh Media was exploring a takeover bid for HT&E. The claims follow a rejected bid for HT&E’s out of home operations, Adshel last month.
The Australian reported investment bankers had been looking for a buyer for the radio business, suggesting a full company bid was in the midst.
But in a note to the ASX this morning, HT&E said it was not aware of any discussions relating to a bid, nor would there be a trading halt.
“The Board and management are clear that the best interests of the Company as a whole, is at the centre of everything we do,” the company wrote.
“We have appointed advisers. We are willing to engage on any proposal that offers compelling value for shareholders.”
Earlier this morning, HT&E’s market value was $704m while Ooh Media had a market capitalisation of $875m.
Those numbers now sit at $724m and $888m respectively.
Sounds like the market wants it to happen, therefore it will.
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