Multiple bidders for Adshel, says owner HT&E

Here, There & Everywhere has received a number of bids for its outdoor advertising division Adshel, the company has told the ASX.

The update came hours after Ooh Media revealed that it had upped its offer for Adshel to $470m, but based the offer on being able to go into a period of exclusive negotiations which would lock out other potential bidders.

However, HT&E – which also owns ARN, Conversant Media and Emotive – said the offer from Ooh Media is “not the most attractive” currently in front of it. A previous bid from Ooh Media was also rejected by the HT&E board last month.