APN Outdoor advises shareholders to bide their time following JC Decaux bid
APN Outdoor’s board has advised shareholders to take no immediate action as they consider yesterday’s $1.1bn bid from French out-of-home giant JC Decaux.
In the stock market announcement this morning, APN Outdoor’s board said there is no certainty the bid would proceed given the conditions attached to the offer.
Non-binding, must drop their bid to acquire Adshel… This is nothing more than a cover for JCD’s attempts to make the market look unsettled before the final submissions for the City of Sydney contract, the largest outdoor contract in Australia… Back to business as usual!