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APN Outdoor confirms $540m cash and shares bid for HT&E's Adshel

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APN Outdoor has raised its final bid for Here, There & Everywhere's Adshel to $540 million as it fends off a $1.1 billion proposal from French giant JCDecaux.

The raised bid for Adshel, revealed by The Australian Financial Review's Street Talk column on Friday morning, will offer $230 million in cash and a further $310 million in scrip, or 54.1 million shares, for HT&E's existing shareholders.

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Max Mason covers insolvency, courts, financial crime, cybercrime and corporate wrongdoing. A Walkley Award winner, Max’s journalism has also received awards from the National Press Club of Australia, the Kennedy Awards and Citibank. Message Max on Signal https://tinyurl.com/MaxMason Connect with Max on Twitter. Email Max at max.mason@afr.com
Sarah Thompson has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones. Email Sarah at sarah.thompson@afr.com

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    Original URL: https://www.afr.com/companies/media-and-marketing/apn-outdoor-confirms-540m-cash-and-shares-bid-for-htes-adshel-20180622-h11pnf