APN Outdoor takeover speculation stoked by JCDecaux chair visiting Australia - report
19 NOV 2017
A visit from JCDecaux [EPA: DEC] Chairman Francois Decaux to Australia has stoked speculation that the group could be considering an offer for APN Outdoor [ASX: APO], the Australian Financial Review reported. According to the unsourced report in the paper’s Street talk column, JCDecaux executives are expected in Australia this week causing fund managers to speculate whether the group is taking a closer look at buying a rival business.
The item noted that buying APN Outdoor would allow JCDecaux to expand into billboards.
The Australian Competition and Consumer Commission (ACCC) recently prevented APN from merging with oOh!Media [ASX: OHL], but may be willing to allow JCDecaux to buy the business.
APN has a market capitalisation of AUD 756m (USD 572m).